‘Private equity is now king’ for the ultra-rich, says Tiger

Founder and Chairman Michael Sonnenfeldt told CNBC that Tiger 21 members, who collectively manage around $150 billion in assets, have increased their allocation to private equity threefold over the last decade.

• “Private equity is now king — that’s where businesses are still scaling,” Sonnenfeldt said.
• But not everyone is convinced that the optimism is justified. Verdad Advisers’s Dan Rasmussen said the industry is facing a “perfect storm” in the wake of sharp rises in interest rates and falling valuations.