Quote of the Day

From last week’s Buyouts South conference in Boca Raton, Florida:

“You can tell how bad the fundraising market is by looking at the number of ties in this room. When’s the last time you came to a conference in Boca Raton, Florida and saw this many people in suits?”

-Christopher Stringer, a managing director with Private Advisors, where he is responsible for private equity manager research, due diligence, selection and monitoring. Stringer was, incidentally, not wearing a tie.