How private equity kept its head in 2019

Trillions of dollars in dry powder and rising asset prices threatened to swamp private equity in 2019. But local players have maintained discipline.

Jemima Whyte and James Thomson

Dec 21, 2019 – 12.00am

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This was the year private equity was supposed to lose its head.

The ingredients were all there. Trillions of dollars in dry powder, the world's biggest companies raising more money than ever before, low interest rates pushing asset prices higher, and of course, Australia's big super funds eager to get in on the action.

Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.