Summary: Private equity fund managers anticipate industry consolidation due to investor demands for higher returns and stronger governance. The number of private equity funds in North America surpasses McDonald’s franchises, highlighting the industry’s overcrowding. While some firms struggle to raise new funds, others, like those that remained disciplined during the liquidity rush, are outperforming.

Link: https://www.cnbc.com/2025/11/05/private-equity-consolidation-fund-manager-kkr-carlyle-eqt-cvc-secondaries.html