Luck, Skill and the Future of Private Equity

For years Kelly DePonte, a partner at private equity advisory firm Probitas Partners, has been studying developments in the global private equity market and educating market participants about the most important findings.

In a wide-ranging conversation with Privcap, DePonte discusses:

• Due diligence techniques to identify who drives performance within a GP group
• The importance of “firm culture”
• The divergence of business plans between the biggest mega-firms and the hundreds of private equity firms that continue to pursue “traditional” private equity
• The role that leverage and “recaps” played in driving returns through the market peak
• His continued bullishness about middle-market and Chinese private equity opportunities