
The Private Equity Debate Revisited
Capitalisn't
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The Pros and Cons of the State Pension Fund
Luigi: At the heart of Steve's justification of the business is this argument that the returns weren't good. And I don't think it's any such thing. If the buyout fund, if the industry can market itself on the basis of past performance then desperate people are going to take advantage of that. Some pension funds are not sophisticated at all and they are completely swayed and seduced by the expensively suited and attired and fast talking people coming from New York with promises of offering this on the moon and the stars.
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