The mud age

Henry Kravis said back in April that we’re in private equity’s «golden age.» This week, George Roberts, Kravis’ cousin and a co-founder of buyout giant Kohlberg, Kravis and Roberts, said the coming years would be harder. And David Rubenstein, co-founder of Carlyle, the rival buyout group, said the golden age couldn’t last forever. Market sentiment has clearly changed. But why are these buyout kings - along with an increasing array of other financial luminaries - acknowledging the problems? Surel...