I disagree this is necessarily good for PE. PE/late stage VC used to have a game plan for how to dress these companies up to get huge growth multipliers, and then stick them in the S&P 500, but that game looks dead. Tiger Global was the poster child for this, and their -50% returns this year should be sending everyone back to the drawing board.
Unless Vista really thinks they can manipulate the old tech companies the way Figma's investors worked over Adobe, then I don't think the results will be great.
Unless Vista really thinks they can manipulate the old tech companies the way Figma's investors worked over Adobe, then I don't think the results will be great.