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

The Meb Faber Show - Better Investing

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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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