06.07.2012 - Is private equity ‘pretty terrific’ for society?
Blackstone Group chairman and CEO Steve Schwarzman told CNBC’s “Squawk Box” that the private equity industry's leaders need to do a better job of marketing if they want to dispel popular misconceptions about what their firms do. “What private equity does is raise money from pension funds – these represent policemen, firemen, teachers, corporate executives and state and municipal employees,” said Schwarzman, “and it invests that money to buy companies.” ..............................................Full Article: Source
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