Tully Friedman: PE hitting market peak, trouble on horizon

Hellman & Friedman, private equity
Buyouts Executive Editor David Toll interviews Tully Friedman, co-founder of Hellman & Friedman and FFL Partners. Photo by Sam Sutton.
  • High prices for mediocre assets will “end in tears,” says Friedman
  • FFL IV roughly 60 pct deployed
  • FFL focusing more on small sub-sectors, like optical retail
Tully Friedman has seen this movie before. “I’ve operated through four or five of these cycles, and I don’t think it’s even a close call. We’re at a [market] peak,” said Friedman, who was accepting a lifetime achievement award at ...

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