Friday Letter: Life after private equity

Two days ago, a letter arrived at PEO’s offices. The head of a UK mid-market buyout firm wrote to announce his retirement. After 25 years in the industry, and seven “fantastic” ones at the helm of his team, he felt it was time to box up his lucky deal cufflinks (our choice of phrase, not his). There was golf to practice and fitness to build, all those good things. And with many friends and colleagues already on the beach, the prospect of joining them was tempting.