The newsroom was rocked earlier this year when, during buyouts to satisfy the corporate goals of 10-percent cutbacks, the managing editor, William Ward, suddenly resigned.
Many of the multibillion-dollar private equity deals struck during the buyout boom of 2006 and 2007 were seen as vulnerable during the recession as they tottered under the weight of their own debt.
Yet there was nothing routine about the flurry of merger activity during the buyout boom.
Mr. Mancini said it was Mr. Lowe's decision to leave during the buyout period.
But another reason is that they committed too much during the buyout boom.
But pension investment chiefs are pickier than they were a few years ago during the buyout boom.
The hefty borrowings that companies take on during a buyout often provide the private equity firms with tax-deductible interest payments.
Today, many of the largest I.P.O.'s on the shelf are large, established companies taken private during the buyout boom of 2005 to 2007.
When Linens 'n Things landed in bankruptcy court this month, it was a black eye for Leon Black, whose Apollo Management had taken the retailer private during the buyout boom.
Hedge funds — the elite, lightly regulated investment vehicles open to a restricted range of investors — enjoyed a winning streak during the buyout boom that preceded the financial crisis in 2008.
