In economics, a recession is a business cycle contraction that occurs when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending. This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a large-scale anthropogenic or natural disaster.
McKinsey & Company is an American multinational strategy and management consulting firm that offers professional services to corporations, governments, and other organizations. Founded in 1926 by James O. McKinsey, McKinsey is the oldest and largest of the "Big Three" management consultancies (MBB). The firm mainly focuses on the finances and operations of their clients.
Soros Fund Management, LLC is a private American investment management firm. It is currently structured as a family office, but formerly as a hedge fund. The firm was founded in 1970 by George Soros and, in 2010, was reported to be one of the most profitable firms in the hedge fund industry, averaging a 20% annual rate of return over four decades. It is headquartered at 250 West 55th Street in New York. As of 2023, Soros Fund Management, LLC had $25 billion in AUM.
Warburg Pincus LLC is a global private equity firm, headquartered in New York City, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. As of October 2023 the firm had over $82 billion in assets under management and invests in a range of sectors including retail, industrial manufacturing, energy, financial services, health care, technology, media, and real estate. Warburg Pincus is a growth investor. Warburg Pincus has raised 21 private equity funds which have invested over $100 billion in over 1,000 companies in 40 countries.
Kearney is an American global management consulting firm with offices in more than 40 countries worldwide. Kearney's predecessor firm was founded in Chicago by James O. McKinsey in 1926; he hired Andrew Thomas "Tom" Kearney as his first partner in 1929. After James McKinsey died in 1937, the Chicago office split into its own company, led by Tom Kearney and called McKinsey, A.T. Kearney, and Company. In 1947, it was renamed A.T. Kearney and Company.
Rajat Kumar Gupta is an Indian-American business executive and convicted felon who, as CEO, was the first foreign-born managing director of management consultancy firm McKinsey & Company from 1994 to 2003. In 2012, he was convicted for insider trading and spent two years in prison. Gupta was a board member of corporations including Goldman Sachs, Procter & Gamble and American Airlines, as well as an advisor to non-profit organizations such as the Bill & Melinda Gates Foundation and The Global Fund to Fight AIDS, Tuberculosis and Malaria. He is the co-founder of the Indian School of Business, American India Foundation, New Silk Route and Scandent Solutions.
Silver Lake, legally Silver Lake Technology Management, L.L.C., is an American global private equity firm focused on technology and technology-enabled investments. Silver Lake is headquartered in Silicon Valley, and has offices in New York, London and Hong Kong.
At the micro-economic level, deleveraging refers to the reduction of the leverage ratio, or the percentage of debt in the balance sheet of a single economic entity, such as a household or a firm. It is the opposite of leveraging, which is the practice of borrowing money to acquire assets and multiply gains and losses.
Stephan Morais is a Portuguese British investor.
General Atlantic, legal main entity General Atlantic Service Company, L.P., is an American growth equity firm providing capital and strategic support for global growth companies, headquartered in New York, United States. The firm was founded in 1980 as the captive investment team for Atlantic Philanthropies, a philanthropic organization founded by Charles F. Feeney, the billionaire co-founder of Duty Free Shoppers Ltd.
Diana Farrell is a banker and political advisor who served until 2021 as the founding President and Chief Executive Officer of the JPMorgan Chase Institute, a think tank. Previously, Ms. Farrell was the Global Head of the McKinsey Center for Government (MCG), providing research, proprietary data, and other tools to support government leaders focused on improving performance. In addition, she was a leader of McKinsey’s global Public Sector Practice, and a member of their Partner Review Committee.
Kirill Alexandrovich Dmitriev is the CEO of the Russian Direct Investment Fund (RDIF), a $10 billion sovereign wealth fund created by the Russian government to co-invest in the Russian economy. His wife Natalia Popova, a deputy director of the NGO Innopraktika Foundation, works for and is a very close friend of Putin's younger daughter Katerina Tikhonova. In February 2022, both Kirill Dmitriev and RDIF were sanctioned by the United States Treasury, following the Russian invasion of Ukraine. Under Mr. Dmitriev's leadership RDIF claims to be the first state owned Russian company to call for diplomatic solution and peace in Ukraine.
Euvin Naidoo is a South African banking executive based in Johannesburg.
The Big Three or MBB is the name colloquially given to the three large strategy consulting firms. They are considered to be the most prestigious firms in the management consulting industry. In terms of employees, McKinsey & Company is the largest and leads by revenue. McKinsey is followed by Boston Consulting Group and Bain & Company, respectively.
Dominic Barton, known as Bao Damin in China, is a Ugandan-born Canadian business executive, author, and diplomat. He is the current chairman of the private investment firm LeapFrog Investments as well as the chancellor of the University of Waterloo. He served as the Canadian Ambassador to the People's Republic of China from 2019 to 2021. Prior to this, Barton was the Global Managing Director of McKinsey & Company, the global consulting firm, from 2009 to 2018 and has previously served as Chairman of Teck Resources and as Non-Executive Director at the Singtel Group in Singapore and Investor AB in Sweden.
Gennady Gazin is a businessman and philanthropist of Ukrainian-Jewish descent.
This is an economic history of the 2020s. Economic history refers to the study of economies or economic events of the past, including financial and business history.
The Great Reset Initiative is an economic recovery plan drawn up by the World Economic Forum (WEF) in response to the COVID-19 pandemic. The project was launched in June 2020, with a video featuring the then-Prince of Wales Charles released to mark its launch. The initiative's stated aim is to facilitate rebuilding from the global COVID-19 crisis in a way that prioritizes sustainable development.
In the 2010s Private equity massively grew. Private equity was accused of "running amok" in the 2010s and resulting in numerous economic issues. Forbes has described private equity firms as fundamentally transforming over the decade Many private equity firms embraced ESG over the decade among other changes but they have been accused of greenwashing.
