On September 4th Financial Times published a letter from Nigel Williams, Chairman of Royalton Partners.
Letter: Private equity tale reveals it has democratic roots
Contrary to the headline on Merryn Somerset Webb’s column (FT Weekend, August 29), one of the largest groups of investors or limited partners in private equity fund partnerships are pension funds. In fact the private equity industry was founded by managing committed capital for pension funds. In 1978 at the inception of the private equity buyout industry with the launch of the first KKR fund, the Oregon State Public Pension fund was one of the first investors. Ordinary investors, or perhaps better to say ordinary savers, participate in private equity through their retirement pension plans. Private equity is not an exclusive club as implied by her article but a truly democratic form of investment managing money for millions of employees.
Nigel Williams Chairman, Royalton Partners Luxembourg
Read more at https://on.ft.com/3i8lPue