Morgan Stanley, Ares Say Private Equity Investors Want Cash Back

Dealmaking is poised to accelerate this year as private equity and private credit funds face renewed pressure to return money to their investors, participants at the SuperReturn International conference in Berlin said.

Activity is “going to pick up over the course of this year and into the next simply because limited partners in private equity want to see their capital back,” David Miller, Morgan Stanley Investment Management’s global head of private credit & equity said in an interview with Bloomberg TV on the sidelines of the conference.

While there is still a gap in valuation expectations between buyers ...