(Bloomberg) -- Carlyle Group LP co-founder David Rubenstein sees a cautious investment climate, but no clear signs of an impending recession.
With increasing competition for deals and high valuations, investors are willing to take smaller gains, Rubenstein said Thursday in an interview with Bloomberg TV at the Aspen Ideas Festival. Private equity is still more attractive than other asset classes, he said. The industry is on a hot fundraising streak, with 2017 bringing in a record $453 billion, according to Preqin.
“Right now investors are reasonably happy with our returns and the returns of our peers,” he said. “As long as the economy is in pretty good shape, I think that will continue.”
Rubenstein is the host of the Bloomberg TV and digital series, “The David Rubenstein Show: Peer-to-Peer Conversations.”
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