Flashback to October 2009 when Carlyle Group co-founder David Rubenstein suggested private equity update it's name and image. He did so from Dubai:
"Private equity will probably come up with a new name. It went from bootstrap deals in the early days to leveraged buyouts to management buyouts to private equity," he said. "Maybe it will go to change capital or value-added equity," he said.
Nearly six years later Rubenstein pushed once again for a name update. I've offered private equity underwriter (PEU), but the Carlyle bigwig stuck to his guns in 2015.
There will be a new name for the industry and the industry will be seen as more mainstream. Mr. Rubenstein’s preferred term? “Change capital.”How might a move to Change Capital impact the PEU lobbying group?