Rick Kes

that's a really interesting thing to me is just to watch you know what's going to change with these people kind of becoming um employable now and you know again looking at what their experience and their skill sets could be and how valuable that could be for some of our clients that's where i'm kind of getting excited in some respects unfortunate for them that they're losing their jobs but maybe fortunate for some of our clients that those people now become employable and potentially valuable for for businesses in the in the coming months and weeks

intro to the question of what do you see on these delayed exits and what should we expect yeah scott i think it's a fascinating question and obviously one that we have a lot of discussions with our private equity group clients about and i think if you kind of peel back some of the pieces the onion

intro to the question of what do you see on these delayed exits and what should we expect yeah scott i think it's a fascinating question and obviously one that we have a lot of discussions with our private equity group clients about and i think if you kind of peel back some of the pieces the onion

You know, if you think about timing, if investments were made in 2016, 2015, you know, 2013, 2014, sometime in that period, and then you put yourself like five, six, seven years into old period, you run into COVID. COVID obviously disrupts the entire economy and has long-term impacts. You know, three, four, five years out, we're still seeing impacts related to COVID, especially the deal prices.

You know, if you think about timing, if investments were made in 2016, 2015, you know, 2013, 2014, sometime in that period, and then you put yourself like five, six, seven years into old period, you run into COVID. COVID obviously disrupts the entire economy and has long-term impacts. You know, three, four, five years out, we're still seeing impacts related to COVID, especially the deal prices.

So, I mean, you know, some of the exits that have happened perhaps didn't happen at the price that the buyer was initially hoping for. They had to make a deal because of whatever reason that might have been out there for them. And then the growth of the company and some of the other things related to that company might have been different than what they would have expected pre-COVID.

So, I mean, you know, some of the exits that have happened perhaps didn't happen at the price that the buyer was initially hoping for. They had to make a deal because of whatever reason that might have been out there for them. And then the growth of the company and some of the other things related to that company might have been different than what they would have expected pre-COVID.

And so I think that if you think about what COVID did to the private equity hold period,

And so I think that if you think about what COVID did to the private equity hold period,

I think you're seeing that come through in some of these other things that are being announced in the world related to a longer hold period, maybe some of the sale prices not being where they would have hoped for, expected, and perhaps an appetite for a longer period of a hold period because maybe they're able to kind of fix some of the things that happened during the COVID shock and then really be able to kind of

I think you're seeing that come through in some of these other things that are being announced in the world related to a longer hold period, maybe some of the sale prices not being where they would have hoped for, expected, and perhaps an appetite for a longer period of a hold period because maybe they're able to kind of fix some of the things that happened during the COVID shock and then really be able to kind of

grow from there and then amplify growth in the future. So I think if you take it back from at least my perspective, a lot of this has to do with kind of the economic shock that COVID brought us to the entire economy.

grow from there and then amplify growth in the future. So I think if you take it back from at least my perspective, a lot of this has to do with kind of the economic shock that COVID brought us to the entire economy.

Yeah, I do think that's true. You know, I think with inflation and like you mentioned, the job environment kind of being where it's at.

Yeah, I do think that's true. You know, I think with inflation and like you mentioned, the job environment kind of being where it's at.

you know if we're at a full employment you know world and inflation still kind of is that I clipped above where the Fed wants it to be you know they don't have a lot of other you know levers to pull you know to reduce interest rates would just create more inflation in theory and so I think We'll continue to monitor it.

you know if we're at a full employment you know world and inflation still kind of is that I clipped above where the Fed wants it to be you know they don't have a lot of other you know levers to pull you know to reduce interest rates would just create more inflation in theory and so I think We'll continue to monitor it.

But I think at some level, too, we have to balance that between the fact that we have full employment is also great for the consumer. Right. And I think if you think about our economy being heavily driven by consumer discretionary spending, you know, that's a big part of why we should continue to think about how do we capitalize on that piece of it and really try to

But I think at some level, too, we have to balance that between the fact that we have full employment is also great for the consumer. Right. And I think if you think about our economy being heavily driven by consumer discretionary spending, you know, that's a big part of why we should continue to think about how do we capitalize on that piece of it and really try to

maybe manage what we can as business owners or private equity fund managers or whoever we are in the ecosystem and try to figure out, well, the interest rate environment is sort of out of my control. But one thing that is in my control is finding the consumers and taking more of the market share from them because they have cash, they're employed, they're out there working.