Everyone's having a go at private equity, and cartoonists are no exception. In March, for instance, UK broadsheet The Guardian delighted its readers with a depiction of the chairman at a private equity conference. The dapper chap is seen telling delegates that they will now enjoy a coffee break, followed by a “tax break”. Made us laugh, we have to admit.
It's not the first time caricatures in mass market publications are looking for the funny side of private equity. We recently dusted off on old issue of Forbes Magazine, which on 9 April 1984 (!) dedicated a front cover to telling its readers “everything you need to know about leveraged buyouts”. Evidently, the potential conflicts of interests inherent in LBOs were already a Wall Street talking point 23 years ago.