Private equity/Charity Smart move

Last night’s launch of the Private Equity Foundation in London was a smart move by an industry with an image problem. Private equity has been slower to embrace philanthropy than other big winners from the growth of the global capital markets such as hedge funds and even the investment banking industry, whose philanthropic credentials were boosted by former Goldman boss Hank Paulson’s decision this month to give away his entire $800m in Goldman stock. Establishing an industry-wide charitable fou...