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Private equity eyes coronavirus-hit industries: They’ve been waiting

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The coronavirus pandemic is shutting down entire sectors of the economy and putting millions of Americans out of work, but one corner of Wall Street may find opportunity amid the carnage: private equity.

The group, which includes investment giants Blackstone, Carlyle and KKR, has a record $1.5 trillion in cash ready to deploy and has been actively seeking deals across the struggling travel, entertainment and energy industries, according to a half-dozen investment bankers who declined to be identified speaking candidly about potential clients.

“They have been waiting for this type of market dislocation,” the head of mergers at a major Wall Street firm told CNBC in an interview. “I don’t…



Source cnbc.com

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