.., one of the world’s largest and most influential private-equity^ WP^ firms, is planning an IPO of a minority stake, “perhaps 10%.” Appraisals of the company’s total value range “from $20 billion to double that.”
It has some 750 employees.
Talk about leverage.
Maybe the insolent goal is possible after all.
This post based on data from the Economist’s Bigger than Rod article. The magazine has given many, many pages to the topic of private equity — to the point that it has become a fixture in each edition. Good starting points are the 2007 special report, The uneasy crown, the 2004 survey, The new kings of capitalism, and the 2003 special report, The charms of the discreet deal. It’s a fascinating subject.