No, Private Equity Isn't Ruining Your Sandwiches, Your Apartment, or Grandma's Nursing Home

In 2024, Blackstone—the world's largest private equity firm at the time, with $1 trillion in capital under management—announced it was buying the sandwich chain Jersey Mike's. Founded on the Jersey Shore in 1975 by a 17-year-old Peter Cancro, who purchased the first shop with a loan from his high school football coach, Jersey Mike's had become one of the fastest-growing restaurant brands in America. READ MORE