I love these stories from Private Equity. There is a real business here where you probably could have used less leverage to acquire Little Gym and run the business profitability but your IRRs are too low if you do that and can’t raise the next fund. The last 5 years and maybe the last 15 have been really weird for investors / sellers overall.
Paywall-free Gift Article link: https://www.nytimes.com/2023/01/28/business/economy/little-g...