The Bronze Age: The period when private equity was in its infancy, from the late 1970s to the RJR Nabisco buyout of 1987. The early portion of this age might better be thought of as the Stone Age, in a financial sense. Ugh, me use debt, make company go better. The Silver Age: The late 1990s, before the technology bubble burst, when buyout and venture capital firms alike enjoyed a renaissance. The Golden Age: The period from 2002 or 2003 until July 2007, when private equity firms ruled the earth. The Purgatory Age: That would be right now. The Platinum Age: Private equity will emerge even stronger from its current trial of fire, just as it has from all previous economic meltdowns, says Rubenstein. Rubenstein didn’t say what comes after the platinum age. Perhaps he is banking on one of platinum’s signature qualities - resistance to corrosion - to make it the final age of private equity.
Private Equity Analyst - The Age of Private Equity
