Carlyle Group LP co-founder David Rubenstein said private equity firms rarely fire workers at the companies they acquire, disputing the allegation that they boost profits at the expense of U.S. jobs.
The Republican presidential primaries have drawn scrutiny to private-equity because of Mitt Romney, a candidate for the nomination, was an executive at Bain Capital LLC. Newt Gingrich, running against Romney, has said that Bain was “exploitative” and that its business is similar to “looting.”
Private equity firms seek to expand the businesses they buy, Rubenstein said in an interview on CNN’s “Fareed Zakaria GPS” program, scheduled for broadcast tomorrow....
