Private equity firms are increasingly raising money to buy individual companies on a deal-by-deal basis as they struggle with a downturn in the market and investors look for ways to cut management fees. Andy Lund, Global Co-Head of the Private Funds Group at Houlihan Lokey, which recently announced the acquisition of Triago, one of the leading advisors for these “direct” transactions, comments to the Financial Times on this burgeoning area of activity.
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