Republished from My experience as a private equity CEO.
My experience as a private equity CEO
Armand F Lauzon Jr
02 Feb 2012
In the past 10 years, I’ve been the chief executive of three companies owned by the Carlyle Group, a major private equity firm. I’ve watched with interest, therefore, as the private equity industry in which Mitt Romney thrived has been portrayed as dedicated to corporate raiding, to profiting as it destroys. In the companies I’ve run and the private equity industry I’ve observed, nothing could be further from the truth
Private equity firms exist for one reason: to create value for shareholders, the largest percentage of which are public pension funds. Firms do this by finding and investing in underperforming businesses that have potential for growth.