Private Equity has passed through a Golden Age but will now spend a year or so in ”purgatory” before entering an even greater period of expansion or ”Platinum Age ” according to David Rubenstein co-founder and managing director of The Carlyle Group the Washington D.C.-based private equity firm with more than $70 billion in assets. In a keynote address at the 14th annual Wharton Private Equity and Venture Capital Conference titled ”Harnessing the Winds of Change ” Rubenstein talked about the effect of the subprime credit crisis on the industry and how ”the private equity world needs to spend much more time letting people know what [we] do to create value.”
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