From the Book: Private Equity Facts and Figures
- Number of people employed by private-equity owned companies in the U.S.: 8.1 million
- Private-equity backed companies headquartered in the U.S.: 15,300
- Examples of private-equity owned companies: Toys "R" Us, The Weather Channel, Madam Tussaud's, Dunkin' Donuts, J. Crew, Outback Steakhouse, Gymboree, Guitar Center, Miramax, Sea World
- Number of private equity firms in the U.S.: 2,600
- Total assets under management in all types of private-equity funds: about $3 trillion
- Capital committed since 1990 to private-equity funds by California Public Employees' Retirement System (CalPERS): $66.8 billion
- Combined revenues of KKR-owned companies in 2011: $200 billion
- Total value of private-equity deals announced during the past decade: $3.89 trillion
- Amount Carlyle's three founders were paid in 2011, including salary, bonus and distributions from funds: $413 million
Sources: Bloomberg, Private Equity Growth Capital Council, Preqin, firm and pension websites
Subtitled Inside the Trillion Dollar Private Equity Industry that owns Everything, Kelly tries to demystify the complex world of private equity through telling the stories of the leading characters and key firms in the industry.
A Bloomberg news reporter, Kelly is familiar with his subject and he traces the mushrooming of this industry from a relatively small niche area of financial service into a globally powerful phenomenon.
The book has a timely edge given the presidential candidacy of Mitt Romney, a former chief executive of Bain Capital, and is certainly well researched.
Kelly notes that he is trained to look for surprise and that as he researched the book, the omnipresence of the industry surprised even him. So much is owned by the industry, and the appetite to run the numbers on businesses that are not, appears to be relentless.
Kelly does his best to make the complex simple with glossaries and charts; it is a challenging read nonetheless.
Although interesting for the general reader, the book will be of most interest to those who work in the global financial services industry and who can relate readily to the firms under consideration here. (Irishtimes.com, November 2012)