PE Firms Are Making Diversity Efforts, But It Will Likely Be a Long Road
Private equity leaders like Carlyle, TPG, and Blackstone have begun to make DEI a priority.
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Private equity leaders like Carlyle, TPG, and Blackstone have begun to make DEI a priority.
The private equity industry is “well within striking distance for its first trillion-dollar year on record,” according to EY.
Rising US equity valuations helped drive exits by private equity in the US to more than $800 billion through the end of September.
With exit activity surging back from last year’s slump, private equity leaders are looking to maximize valuations.
Private equity firms need to make fundamental changes to their business model to catch up with technology transformation, investors’ focus on social issues and environmental damage from companies, and the potential for more scrutiny from regulators, according to a new report from Ernst & Young. “This report has been a big work in progress for some time,” said Pete Witte, global private equity lead analyst at EY, in an interview. “The question we posed to people across disciplines was what does the PE firm of the future look like?’” Private equity firms will no longer be able to so...