Following the technology downturn, traditional old economy investments have come back into vogue. Whereas two or three years ago investors were willing to speculate on dot.com start-ups, fund managers now look at cash flow and profit capability. “Traditional old economy has been the cornerstone of private equity performance over the last 15 years and I think they will carry on being so,” says Simon Wildig, a partner at Close Brothers Private Equity. Over the course of ...
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