Not a lot of "grey area" regarding Private Equity investors these days.These "masters of the universe", are getting lumped in with the Investment Bankers, and Mortgage Brokers, as prime examples of everything that is broken in our current financial system.
In an effort to combat this image, the Private Equity Council issued a report claiming that companies backed by private equity investments provide jobs for more then six million Americans, or more the five percent of all private sector workers.
Specifically for California, the report cites:
•There are approximately 1,200 private equity-backed companies based in California.
•Private equity-backed companies based in California employ nearly 440,000 workers in the U.S.
•Currently, private equity firms have invested an estimated $125.54 billion in California-based companies.
•There are 140 private equity firms in California.
•The California Public Employees’ Retirement System had $22.7 billion, or 11.6 percent of total assets, invested in its Alternative Investment Management (AIM) Program as of October 31, 2009.
•The California State Teachers’ Retirement System had $16.86 billion, or 12.6 percent, invested in private equity as of December 31, 2009.
To Access Private Equity Employment by State Click (HERE)
Now, I'm the first to point out that the Private Equity Council's data may not be completely independent or unbiased...HOWEVER, at this point any positive additions to California's economy are welcome...
