Fishburn Hedges financial practice co-head Morgan Bone says more private equity firms need to ‘stand up for themselves'.
In his video-clip for PRWeek, he argues that the private equity industry is a force for good, and is ‘privately very happy with itself'. But much of what has been said and written has been emotional. ‘Hyperbolic references to parasites and locusts abound,' he says.
Yet Bone believes the industry is ‘its own worst enemy, choosing secrecy over openness, even when there is nothing to conceal'. This allows detractors to set their own agenda, and lets myths ‘perpetuate and gain credence.'
Bone says PE firms must ensure that engagement with all stakeholders ‘goes beyond glad handling' to ensure they retain a competitive advantage.
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