The industry remains unsure about the prospects for recovery and is still in a state of angst about whether it should continue as it is, judging by the mood at private equity conferences in Abu Dhabi and Copenhagen.

The heavyweight private equity executives who addressed the SuperReturn Middle East conference in Abu Dhabi and the European Private Equity and Venture Capital Association conference in Copenhagen spoke about the future of the industry, including whether the lucrative private equity fees structure should be reformed, whether economies are recovering, the future of buyouts and whether the industry needs to improve its public image, which has been badly tarnished in recent years.