Is private equity creating value, or just piling on debt? | FT #shorts

William E Simon was a bond trader-turned US cabinet secretary under President Richard Nixon. He was also abrasive, polarising and the 'father of private equity', according to journalist and author Hettie O’Brien.⁠ ⁠ Hettie tells hosts Gillian Tett and Robin Wigglesworth how Simon orchestrated a deal that was so revolutionary, and so lucrative, that it kickstarted the leveraged buyout trend of the 1980s, which later gave way to the modern private equity industry. ⁠ ⁠ But how did we get from that one deal to a sector that’s now one of the largest alternative asset classes in the world? And if he was alive today, what would Simon think of the industry he helped create?⁠ #shortsviral #shortfeed #shortsvideo #shortsyoutube #privateequity #debt #finance #bonds ► Enjoying FT content? Get a daily slice of the very best FT journalism with FT Edit. Free for 30 days then just £4.99 a month See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132. ► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community ► Listen to our podcasts: https://www.ft.com/podcasts ► Follow us on Instagram: https://www.instagram.com/financialtimes ► Follow us on Instagram: https://www.tiktok.com/@financialtimes