By Andrew Wollaston (EY Global Reshaping Results, Restructuring and TAS Private Equity Leader) and Pete Witte (EY Global Private Equity Lead Analyst)

Private equity (PE) firms are better prepared for an economic downturn than they were a decade ago for four important reasons.

The last decade has been one of unprecedented growth for PE. Assets managed by the industry have more than doubled since the global financial crisis (GFC), with firms now ma...