Private equity is not happy with 15% because they can get that by parking their money in a REIT. They are shooting for the moon, period. Once you take their money their is no backing out. It's to the moon or close up shop.
What REITs have 15% return? That seems improbable.
I think he's saying they have to grow 25% per year to please their PE overlords.
Ah. Well then yeah, I think it’s safe to say the business model of PE wealth extraction is broken. That or businesses that need to take on PE funding are probably not very sound.
PE is what happens when a company dies - PE is how the carcass of the company rots.