US. Private equity is past its peak, warns Pulitzer Prize-winning
A new business book calls into question the business model of private equity and argues the strategy won’t generate the same returns as in prior decades. Since the 1970s and 1980s, firms such as Apollo Global Management, Blackstone, Carlyle Group and KKR & Co., among others, made money in leveraged buyouts, more recently dubbed private equity, in which the firms buy up companies using investor assets, leverage them and aim for more efficiencies and higher profits. Institutional investors have come to...
