Why the World Needs Private Equity

Far from being vultures who do not care what gets destroyed in their single-minded pursuit of profits, private equity firms, rather, see their role as “empowering business leaders as they seek to make change,” wrote Marek Gumienny, managing director of Candover, in what amounted to an industry apologia published Tuesday by the Web site of BBC News. Coming one day before The Financial Times warned about the dangers of private equity on its editorial pages, Mr. Gumienny’s commentary underscores the growing attention, good and bad, these kinds of investment pools are getting.