How Private Equity Buried Payless: https://www.nytimes.com/2020/01/31/upshot/payless-private-equity-capitalism.html … Article tries (unsuccessfully) to condemn all PE, and capitalism generally, using Payless as the case study. But, some points raised are worth reflection and beg for nuance. PE is not a monolith. Here goes...
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To achieve this, sellers have to care more about who buys their company and what they do with it. LPs have to find GPs they can trust and lower their short-term return expectations. GPs must stop creating heads-I-win-tails-you-lose situations and aim to get rich slowly.
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If this sounds fanciful, you're probably right. Cynicism is usually accurate in the short term. But, we've tried to implement these ideas
@adventur_es and, so far, it's working. Are we doing things perfectly? Oh, hell no. But, we're trying and open to feedback. Fire away.Prikaži ovu nit
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I like what you offer as solutions here, but isn’t the inherent issue with PE that it’s just a financializtion play and so it’s largely always going to be run by financiers and leveraged with debt?
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Technically, anyone who buys equity in private companies is "private equity," but yes, it's traditionally financiers. Operationally-focused firms have popped up and are succeeding. Believe that's the future.
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