Secondary PE Buyouts Not A Good Sign: Blackstone

The high levels of secondary buyouts in Europe are not a sign of good health for private equity industry, feels Blackstone Group L.P. (NYSE:BX)’s global head of private equity. Joseph Baratta of The Blackstone Group L.P. (NYSE:BX) feels the increasing popularity of private equity firms buying assets from each other, known as secondary buyouts, doesn’t mean the market is healthy. Secondary buyouts more than primary buyouts The Blackstone Group’s private equity chief said at a Bloomberg summit in London that right now in Europe, about 75% of deals above $500 million in enterprise value are sponsors selling to each other,…