PE conceptually is fine and if it worked the way you describe then nobody (respectable) would be complaining. But in practice you see it turn healthy or struggling but fixable companies into a shell to hold onto debt.
Its a twisted way of using the financial structure to siphon money without creating value (I would argue it destroys value instead).
Its a twisted way of using the financial structure to siphon money without creating value (I would argue it destroys value instead).
See the story of Toys R Us as an example.