To attract new capital, private equity professionals often emphasise their firm’s operational excellence, focusing on operations-related improvement initiatives, their portfolio companies’ corporate governance mechanisms, culture, organisation, and long-term...
Private equity managers won the financial crisis. A decade since the world economy almost came apart, big banks are more heavily regulated and scrutinized. Hedge funds, which live on the volatility central banks have worked so hard to quash, have mostly lost their...
The face of private equity, Blackstone chairman and CEO Stephen Schwarzman, is pushing back against the methodology behind a recent study that found leveraged buyouts resulted in substantial job losses. The study, authored by economists including Josh Lerner from...
It took a few mistakes before Stephen A. Schwarzman skyrocketed. Once, a single miscalculation rippled its way through an entire deal book. Decades later, he invested $330.0 million in a company that collapsed within months—which resulted in a 100% loss. These...
Private equity firms are living in the age of the add-on. Through the first nine months of the year, add-ons to existing portfolio companies accounted for 68% of all private equity investments in the US—the highest annual rate on record—according to PitchBook’s... 