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NEW YORK, Nov 8 - Goldman Sachs expects dealmaking activity to stay subdued in the medium term as macroeconomic conditions weigh on private equity transactions, an executive said on Wednesday.
"That flywheel of raising money, investing it, returning it, will be less efficient going forward," Esposito said. Equity markets are feeling confident after the latest Federal Reserve meeting, he said. After the central bank kept rates unchanged, some companies decided to sell equity shares, he said.
The trading environment for stocks and fixed income is far more interesting given the interest rate environment, inflation and escalating geopolitical tensions that are fueling volatility in markets.Esposito addressed Goldman's move to scale back its consumer ambitions. "We realized that's a hard business that we don't necessarily have any differentiated or competitive advantage to be in," he said.
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