A Glimpse Inside The Industry That Owns Everything

8 Oct

THE INTERNET POST

Standing in Legoland in Carlsbad, California in 2011, fulfilling a promise to my then eight-year-old son William, it hit me. I was strolling around a Blackstone-owned property. We’d woken up in a Homewood Suites, owned by Blackstone-backed Hilton. We’d driven to the park in a rental car from Hertz, owned by private-equity firms Carlyle and Clayton, Dubilier & Rice. Practically every time I’d opened my wallet that day, it had been to a company owned by private equity. Even on vacation, I couldn’t escape.

A few months later, I had dinner with Greg Brenneman, who’d held top positions at Continental, Burger King, and Quizno’s, all private-equity-owned at the time he was involved. Brenneman is now the chairman of CCMP Capital, whose investments have included 1-800-Flowers.com and Vitamin Shoppe. We talked at length about the ubiquity of PE ownership — my J. Crew sweater, the Dollar General store in my wife’s…

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