Introduction

Mark Bishop

A chapter in The Future of Private Equity, 2012, pp 1-6 from Palgrave Macmillan

Abstract: Abstract History may well define January 2012, the month in which I began writing this book, as the nadir of the private equity industry. It opened with the issuance by Newt Gingrich’s political action committee, Winning Our Future, of a 28-minute, seven-second video titled ‘When Mitt Romney Came to Town’. Intended to associate the US Presidential candidate and co-founder of Bain Capital with the excesses of Wall Street by showcasing the plight of small-town Americans who had lost their livelihoods when Bain-backed companies downsized or became bankrupt, the film accused the firm, and by implication private equity as a whole, of over-leveraging investee businesses, asset-stripping and having no regard for the human consequences of its actions.

Keywords: Initial Public Offering; Private Equity; Capital Gain; Fund Manager; Asset Class (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-29586-6_1

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DOI: 10.1057/9781137295866_1

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