VAIL — David Rubenstein, co-founder and CEO of the Carlyle Group, will engage the Vail community Saturday in a discussion about the complex world of private equity.
Private equity firms provide growth and acquisition capital to existing companies, support management buyouts and corporate spin-offs, and create liquidity for small and family owned businesses that need to sell or transition to professional management. Our economy has been built in large part on a private equity model. But does it work?
Today, there are almost 3,000 private equity firms holding over $1 billion in assets. The top 10 firms in the U.S. hold assets of about $1 trillion. Over 7.5 million Americans are employed by companies owned (at least in part) by these firms, and they indirectly affect millions more people. That’s because almost 25 percent of the money they raise comes from government pensions, endowments and public foundations.
During this stimulating program, Mr. Rubenstein will explore whether the PE model is a net positive or negative for our economy. He’ll address questions such as over the long term, does the financial capital and other resources that private equity firms invest help to grow businesses, create jobs and fuel our economy? Or does pressure from investors for immediate and substantial returns lead to job elimination, outsourcing, and over-leveraged, debt burdened companies?
The question is fairly simple; the answer is not. But one thing is for certain, there are few people in the world more qualified to discuss this complex issue than David Rubenstein.
Rubenstein is best known as the co-founder and CEO of the Carlyle Group — one of the largest and most successful private equity firms in the country. Before starting that firm he practiced law and even advised a former president of the United States. Rubenstein is also a renowned philanthropist, donating his time, knowledge and millions of dollars to universities, cultural centers and healthcare facilities.
Join the Vail Symposium at 5 p.m. Saturday in The Grand View (above the Lionshead parking structure) to learn more about the complex world of private equity with David Rubenstein. Space is limited so reserve your tickets today at www.vailsymposium.org/calendar or call the Vail Symposium at 970-476-0954.
The Vail Symposium is a nonprofit organization that has been an important part of Vail’s history and evolution since 1971. For over 40 years, the Symposium has provided a variety of educational programs that are thought provoking, engaging and affordable. To learn more, visit www.vailsymposium.org or call 970-476-0954.