The determinant role of private equity

The Swiss daily has dedicated its front page to private equity which it defines as the "most powerful industry in the financial world" because of the crushing weight it bears on the market. "By not calling upon public transparency, this capital is often processed in utmost anonymity, managed by highly experienced former industrialists and business men", explains the editorialist Pierre Veya. "In economical terms, these are predators with a shark's instinct, to whom we owe the resurrection of companies that the traditional market had condemned. They are the inspiration behind restructuring and mergers that no-one else dares to impose. But they are also the predators who force companies into debt so that they can then re-sell them with a profit, without necessarily concerning themselves with the durability if their prey. They are both the 'angels and demons' of global capitalism."

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