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Citigroup chief dismisses predictions of end to buyout boom

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Citigroup's chief executive Charles O Prince has dismissed market speculation that the recent spate of private equity buyouts is about to come to an end, the Financial Times online edition has reported.

Mr Prince said that while the boom must end at some time, in the meantime the fact that there remains high liquidity in the markets will sustain the current climate in the short-term.

He went on to deny that his company is to pull back from private equity acquisitions, stating that: "When the music stops, in terms of liquidity, things will be complicated…But as long as the music is playing, you've got to get up and dance. We're still dancing."

His remarks come at a time when analysts have been predicting that the crisis in the US subprime mortgage market, coupled with heightened fears about lending conditions and rising interest rates, will combine to cause the leveraged finance market to decline.

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