Private Equity Benefits Average Americans, Says Industry Group; Also Whisteblowers?
We occasionally wonder why more of the conversation about the outsized incomes earned by successful hedge fund and private equity managers doesn’t touch on the clients footing the bill. Which is to say, before you complain about how much money managers make, it’s worth remembering that institutional investors—pension funds, university endowments, etc.—pay managers to invest institutions’ money.
Well, in case you didn’t realize or somehow forgot who private equity firms work for, an industry lobbying group is here say they work for you: “The vast majority of the firms’ returns go directly to the firms’ investors,” says the narrator of an animated web video published today by the Private Equity Growth Capital Council. “So when private equity succeeds, public school teachers in Michigan, police and firefighters in Colorado, nurses in Ohio and college students in North Carolina reap the benefits.” Read More
