Stephen Pagliuca

We really wake up every day trying to build businesses. That is the goal of private equity. It's a misnomer out there that private equity profits by shrinking companies. In fact, it's just the opposite. Private equity creates value by growing great companies.

Though builders may build, in the main they follow the plans of architects. Teachers teach, but they must have a text. Politicians govern, but only upon the flow of commentary that raises them up or casts them down.

It is only when you watch the dense mass of thousands of ants, crowded together around the Hill, blackening the ground, that you begin to see the whole beast, and now you observe it thinking, planning, calculating. It is an intelligence, a kind of live computer, with crawling bits for its wits.