Public Value：a Primer on Private Equity.pdfVIP

PUBLIC VALUE: A PRIMER ON PRIVATE EQUITY 2007 INTRODUCTION ou can hardly open a newspaper today without Though few know it, private equity is an integral part of learning of a major new corporate transaction the everyday lives of millions of Americans. When you buy involving private equity (PE). As private equity coffee in the morning at Dunkin’ Donuts, you’re interacting Yhas become more prominent, as private equity with private equity; when you see a movie produced by funds and the size of the transactions they finance have MGM Studios and buy a pizza at Domino’s afterwards, grown larger and as the names of the companies they acquire you’re interacting with private equity. When you shop at have become more familiar, reasonable questions are being Toys R Us for the hottest new video game or the latest “must asked: What is private equity all about? How does it work? have” doll or when you buy a new outfit at J. Crew, you’re What does it mean for the American economy, for American touching private equity. When you purchase pet food and workers and for American competitiveness? This paper is supplies for your dog or cat at Petco, that’s private equity, intended to address these and other relevant questions—and too. And when you make online plane and hotel reservations to ensure that any public policy debate about private equity is for your vacation, you may be relying on private equity. balanced and rooted in facts, not fears or provocative rhetoric. Many of us work in office buildings owned by private equity