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Private-equity nabobs bristle at being dubbed mere financiers. […] Much of their pleading is public-relations bluster. Clever financial ploys are what have made billionaires of the industry’s veterans. “Operational improvement” in a portfolio company has often meant little more than promising colossal bonuses to sitting chief executives if they meet ambitious growth targets. That model is still prevalent today.

dcterms:bibliographicCitation

2013 June 22, “Engineers of a different kind”, in The Economist, volume 407, number 8841, page 70: