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Steve Klinsky, New Mountain Capital – Private Equity Titan | #489

The Meb Faber Show - Better Investing

CHAPTER

The Evolution of Private Equity

The average private equity fund has outperformed public equities over 1, 5, 10, 20 public equities of obviously outperforming government bonds. There is a much wider dispersion in returns and private equity say than there is in public equity management because it is a skills base game. A firm like Newmount is empowered with capital. We are given years to put it to work. You can attract better management talent if they're not just a division manager. They really have ownership and focus on it. And you can just do things better.

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