The barbarians are back at the gates. Wall Street is ready: Paul J. Davies

Private equity firms are gearing up to boost investment banking activity after a two-year lull. Top executives at Morgan Stanley and Goldman Sachs predict a surge in deals, driven by debt refinancing that has improved company prospects. This revival, reflected in a sharp increase in leveraged-loan issuance, is expected to lift investment banking revenues and valuations of private equity-owned businesses, paving the way for a more robust market in the coming years.

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By Paul J. Davies

The barbarians are back at the gates. Morgan Stanley and Goldman Sachs Group Inc. are confident that their most important clients are about to get active after a long spell on the sidelines and help goose the long-awaited revival in investment banking fees.

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