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Is private equity ‘pretty terrific’ for society?

Posted on 06 July 2012

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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