Market sentiment has shifted from 2017's surprise growth and low volatility to 2018's rise in macro uncertainty and tightening financial conditions as U.S. rates rise. Yet major stock indexes are near record highs, despite a somewhat turbulent first half of the year. Private equity firms continue to raise mega-billion dollar funds and merger activity continues to consolidate in all industry. According to a report, the number of publicly listed companies in the U.S. has fallen by a fifth over the last decade, and by half over the last 20 years. Where are we in this point of the cycle? Is the balance of power is shifting from public markets available to all investors into private markets? With near record levels of dry powder, how could global markets absorb all of that cash? Which industries have pockets of opportunity for investors - and do those industries differ across the U.S., Asia and Europe?

Moderator:

Steve Krouskos Global Vice Chair, Transaction Advisory Services, EY

Speakers:

David Bonderman, Chairman and Founding Partner, TPG Capital

Michael Carmen, Partner, Private Equity Lead Portfolio Manager and Equity Portfolio Manager, Wellington Management

Brian Sheth, Co-Founder and President, Vista Equity Partners