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Private Equity Presents Case for Opening Buyout Funds (Corrected)

Jan. 15, 2020, 11:01 AMUpdated: Jan. 15, 2020, 6:16 PM

Blackstone Group Inc. and Apollo Global Management Inc. delivered a simple message to Wall Street’s top regulator yesterday: Private equity is stomping public markets, meaning mom-and-pop investors will endure inferior returns as long as rules keep them out.

Speaking at a Securities and Exchange Commission event, top executives at the firms stopped short of urging the agency to dial back restrictions. But they came armed with data showing all the ways retail investors have been left behind. Their arguments: private markets are here to stay, less-liquid investments like corporate debt perform much better than stocks and private equity produces bigger...

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