Paper: Lifting the Curtain on Private Equity
In partnership with The American Federation of Teachers, AFREF released a paper entitled “Lifting the Curtain on Private Equity: A Guide for Institutional Investors and Policymakers.”
Tag Archives: private equity
Letters to Congress: Letter Urging Congress to Address Risks in Growing SPAC Mania
AFR wrote a letter to Congress providing a number of policy recommendations that would help reign in SPAC mania and better protect investors.
Letters to Regulators: Letter to the SEC on Proposal to Modernize Shareholder Reports, Disclosures, and Fees
The Americans for Financial Reform Education Fund (AFREF) appreciates the opportunity to comment on the above referenced proposed rule (“the Proposal”) by the Securities and Exchange Commission (the “SEC” of the “Commission”) concerning the simplification and streamlining of the most useful information and fees to
Letter to Transition: SEC Needs Chair Committed to Corporate Accountability, Transparent Public Markets.
We urge you to nominate an SEC Chair who is committed to restoring corporate accountability and rebuilding robust, transparent public markets. Our country needs an SEC that will challenge powerful interests on Wall Street to better promote inclusive economic growth, while also protecting main street investors, pension plan participants, workers, and the communities in which we live.
News Release: New Study Documents Job Losses in Retail Due to Private Equity
Private equity pillaging of the retail industry has cost over half a million jobs amid over 18,000 store closures through February 2020, according to a new study, the first to examine job losses at the state level. The job losses occurred in every state, with more than 10,000 jobs lost in 20 states and more than 30,000 lost in California, Florida, and New York.
Statement: SEC Exams Show Private Fund Managers Overcharge Investors
The problems the SEC identified include fund managers’ failure to make full and fair disclosure of conflicts of interest, charging improper fees, and failure to implement policies to prevent staff from trading on material non-public information. In other words, the SEC’s examinations have shown that private equity and hedge fund managers are consistently engaged in self-dealing and overcharging investors, like pension funds that provide for the retirement security of millions of Americans.
Blog Post: Private Equity Profiteering from Incarceration, Tools of Police Brutality
Private equity firms often profit from mass incarceration and they expand inherently racists business practices in communities of color. Private equity is behind manufacturers of weapons used against people protesting police brutality against the Black community.
Fact Sheet: Private Equity Industry Poised to Profit from the Federal Reserve’s New Lending Programs
Private equity funds could access government assistance for their portfolio companies while avoiding any responsibility to repay any debt or obligations to the public purse. Private equity firms could also tap government aid to finance leveraged buyout purchases of additional companies, using public money to load target companies with debt and drain their assets while avoiding any responsibility for paying that debt back.
In The News: How Private Equity Firms Will Profit From COVID-19 (The American Prospect)
Unless Congress and regulators act, private equity will shed its nonperforming assets and feast on new ones. J. Crew is the latest example.
NEWS RELEASE: Private Equity Looting Drove J. Crew Bankruptcy
Private equity firms loaded J. Crew with debt and hid assets away from investors and creditors.