Buyout leaders brace for 2012 refinancing 'wall'

Senior directors at big private equity firms such as Blackstone Group and the Carlyle Group are scrambling to prepare for a refinancing "wall" that is due to hit their portfolio companies from 2012, according to a report by The Wharton School of the University of Pennsylvania.

The summer 2009 report, produced highly-regarded US business school Wharton, quoted senior industry figures predicting the event.

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The Worst Performer in Billionaires’ Portfolios? Trophy Art.