Deals
Schwarzman’s ‘Dream’ Tested as Private Equity Eyes Your Nest Egg
- Companies wary of letting buyout firms access $4.8T in savings
- Growing use of target-date funds could open the door for PE
Stephen Schwarzman.
Photographer: Andrew Harrer/Bloomberg via Getty ImagesThis article is for subscribers only.
Private equity firms are good at solving complex problems. What’s stumping them? Normal people.
Five years ago, Carlyle Group LP’s David Rubenstein predicted a future where ordinary savers would be able to invest in private equity, an industry limited to wealthy individuals and institutions. He later suggested that by now, Americans would be able to put some of their 401(k) retirement accounts into the asset class.