Private Equity Gets a Bad Rap: Silver Lake Co-Founder
Although private equity is part of the larger capital marketsthat have driven growth and job creation in America, Glenn Hutchins, Silver Lake co-founder and co-CEO, tells CNBC that private equity gets a bad rap.
“The private equity guys like to be like Greta Garbo — just leave me alone. We’re not practicing politics, we're just acting privately," said Hutchins.
"To be injected into the public debate is something [private equity] people aren’t comfortable with and don’t know how to do," he added.
Hutchins noted that private equity is a difficult area to categorize because its not a "monolith" industry.
In response to the President Obama's State of the Union address on Tuesday night, Hutchins said there is a profound sense of disappointment in the business community.
He went on to say that the dysfunction in Washington is a result of not focusing on growth.
“Once we get this economy, the U.S. and Western Europe, growing again, [it’s about] how we include everybody in it and make them feel like they have a stake in the system,” said Hutchins.
We need to think hard about the inclusion and the American dream, he concluded.