At first glance, Greece seems to be the perfect destination for private equity, as the depressed value of assets should presumably present an alluring opportunity for bargain hunters. But many sponsors aren't biting, at least for now. "What we have right now, despite the advent of a potential deal, is a great deal of uncertainty," said Hugh MacArthur, a partner and the global leader of the Private Equity practice at Bain & Company. "The industry generally wants to see a few more cards played before we get off the pause button and get on with real investment again."