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#PrivateEquity is *quite* a racket. #PE managers pile up other peoples' money - pension funds, plutes, other pools of money - and then "invest" it (buying businesses, loading them with debt, cutting wages, lowering quality and setting traps for customers). For this, they get an annual fee - 2% - of the money they manage, and a bonus for any profits they make.
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If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
https://pluralistic.net/2023/07/20/continuation-fraud/#buyout-groups
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pluralistic.netPluralistic: Private equity ghouls have a new way to steal from their investors (20 July 2023) – Pluralistic: Daily links from Cory Doctorow