Private Equity's Foggy Forebears

Despite the expectation that a wave of private equity shops might be entering the public market, Chiaverini notes that firms such as Blackstone and KKR exist in another stratosphere, targeting much larger buyout prey. That means they are unlikely to be in direct competition.

The next goal for the BDCs? Broader market billing.

Lewis of Gardner Lewis is hoping that American Capital, as it grows, gets into the S&P 500. "We've committed new capital [in American Capital] over the last month," he says.