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Are private equity firms facing a succession crisis?
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Everybody is talking about succession. No, not the hit US TV drama, but the thorny issue of leadership in the world of private equity.
Some of the industry’s biggest buyout barons finally handed over the reins last year after decades in the driving seat, including KKR’s co-CEOs and co-founders Henry Kravis and George Roberts, Apollo Global Management’s co-founders Joshua Harris and Leon Black, and Blackstone’s executive vice chair Hamilton “Tony” James.
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