Capitalism has lost its mojo, PE investor warns

Swedish author and PE investor Björn Weigel argues that institutional investors hamper innovation-led growth and development, writes Danish news service Finans.

Photo: Bax Lindhardt/Ritzau Scanpix

Pension and investment funds want to grow, however, they do not want their investments to outcompete other companies in the same line of business. And by that, capitalism has lost its mojo, warns Swedish author, PE investor and advisor Björn Weigel, and according to Finans, he is not afraid to stir the pot.

"Capitalism has lost its mojo and has "gray owners". Several funds hold equities in competitive companies. They have no interest in company A crushing the market, because they also hold equities in three other large-scale companies in the same line of business. We need to give the power back to entrepreneurs and capitalists if we want innovation-led growth and development," says Björn Weigel to Finans, which met him in at Skagen Funds' New Year's Conference in Copenhagen last week.

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