Are the leading pension fund investors missing a trick? That’s a question often asked, given their apparent lack of interest in one of the most high-profile forms of corporate finance: private equity.
In the view of private equity enthusiasts, the big investor is sometimes portrayed as a numbskull, allowing private equity firms to snap up companies on the cheap only to re-float them on the public markets just a short while later, often with the very same investors paying a multiple of the original selling price following a period of restructuring.
