When a man worth more than $3 billion attacks another billionaire as greedy and as a character out of “Goodfellas,” you know something unusual is happening. In this case, it may be a sign that all is not well in the world of private funds.
The man with the $3 billion in this case is Michael Moritz, a storied partner at the venture capital firm Sequoia Capital. In an Op-Ed article in The New York Times last week, Mr. Moritz denounced the actions of Stephen A. Schwarzman, the co-founder and chief executive of the private equity firm the Blackstone Group and the chairman of President Trump's advisory business council.
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