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