“God looks favourably on the founders of private equity firms.” That was the conclusion of David Rubenstein as the Carlyle Group co-founder reflected on his generation's staying power, reports FN's sister publication Private Equity News.

Over the past three decades, Rubenstein has been an enduring presence as the business of buying and selling companies has transformed from a niche Wall Street practice into a gigantic industry commanding hundreds of billions of dollars and spanning asset classes.