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It's clear to me when you do private equity well, you're making companies more efficient and helping them grow and become more profitable. That success means our investors - such as public pension funds - benefit, which contributes to the economic wealth of society.

People used to think that private equity was basically just a compensation scheme, but it is much more about making companies more efficient.

I think good private equity investors create a lot more economic value than they destroy.

Private equity does pay very well, and my counterparts, guys that I grew up with who are still working at a number of firms, all make a lot of money.

In the '70s and '80s, what private equity did is it changed corporate America. It started holding companies accountable, and for the first time managers started thinking like owners.

The role of private equity as fiduciaries is certainly to make money.

Private property is a very fundamental and very long-term institution.

We really wake up every day trying to build businesses. That is the goal of private equity. It's a misnomer out there that private equity profits by shrinking companies. In fact, it's just the opposite. Private equity creates value by growing great companies.

In various countries around the world, assets that had previously been in the hands of governments were sold off to the private sector in the hope that this would lead to a more efficient allocation, that these assets would be put to better use.

Prosperity comes from the private sector.