Show Notes
Partners Group pursued an innovative approach to private equity: The firm built a business serving a market of individual investors. Now, a recent executive order from US President Donald Trump is set to unlock that marketplace on an even grander scale.
The only thing is, Partners might not be the one to reap the rewards. The FT’s US private equity and deals editor Antoine Gara and private capital reporter Alexandra Heal explain how the pioneer is struggling to keep up with its rivals.
Clips from CBS, CBS19
The FT does not use generative AI to voice its podcasts
- - - - - - - - - - - - - - - - - - - - - - - - - -
For further reading: How private equity’s pioneer in tapping retail money lost its edge Donald Trump exposes US retirees to new world of risk with 401k order Buyout executive warns private equity push into US savings risks bailouts
- - - - - - - - - - - - - - - - - - - - - - - - - -
Follow Antoine Gara on X (@AntoineGara) and Bluesky (@antoinegara.bsky.social). Alexandra Heal is on X (@alexandraheal) and Bluesky (@alexandraheal.bsky.social). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
More from The Story of Money
The French Revolution was a bloody fight for liberty, equality and fraternity. But it was also a battle over money.
The French Revolution was a bloody fight for liberty, equality and fraternity. But it was also a battle over money.
The first world war was one of the deadliest conflicts the world has ever seen. And when the US entered the war in 1917, it faced a massive financial challenge: how to pay for its contribution? Enter Treasury Secretary William McAdoo who launches the groundbreaking Liberty Loan Programme and - alongside an unprecedented national propaganda campaign featuring silent film stars like Charlie Chaplin, Girl Scouts, even a captured German submarine in Central Park - encourages thousands of Americans to ‘buy a bond’ as part of their patriotic duty.
The US Treasury market - the world's largest government bond market - is worth about $32tn today, making it the largest pile of debt accumulated in history. But its roots lie in medieval Venice, a bloody military disaster and a leader who was forced to raise a loan to fund a war against the Byzantine Empire.
How do you tell if an economy is actually working? Most economics classes point to controlled inflation, steady growth, or low unemployment - but what if the level of financial fraud is the real hidden indicator?