Last week I said:
Because I think private equity is part of a fundamental shift away from the public corporation, I don't see private equity and hedge funds folding into the night. Maybe the public corporation will be replaced by the public uncorporation, giant umbrella LLCs like Fortress that manage large hedge funds that run slim little operating companies, like the future versions of GM and Ford.
Guess I had it a little wrong. The news today:
Four of the nation's largest private equity firms have been contacted about possibly buying Chrysler Group from DaimlerChrysler, according to a published report [in the Financial Times]. . . [S]ome analysts have suggested that the three brands that make up the Chrysler Group - Chrysler, Dodge and Jeep, along with their dealership network - still have enough value to attract a buyer, even if it's not by another struggling automaker. And those expecting a sale have generally pointed to private equity firms as the most likely potential buyer, although some have also suggested a growing Chinese automaker might also consider a bid as a way of jumping into the lucrative North American market.
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