Venture capital and private equity are integral parts of America's economy, but neither has really been around for very long. It's something I've been reminded of over the past month, as several of the industries' founding fathers have passed.
Driving the news: Bill Macaulay in 1983 co-founded First Reserve, which would become the first global private equity firm focused exclusively on energy. Until 2017 he'd lead First Reserve, which has raised over $35 billion for its funds. Macaulay died last week at the age of 74, leaving behind wife Linda and daughters Elizabeth and Anne.