Aug. 17, 2022
August 17, 2022 The Private Equity industry has been siphoning off resources, assets and wealth from the many to the few for decades. This in turn is also eroding the fabric of our democracy (industries collapsing, companies closing, workers losing jobs and pensions). There are many changes needed to this industry, but S7-03-22 is a good start. There is no reason why these huge firms, which tout themselves as mathematical and financial experts, should not be made to produce their fees and expenses in a standardized way so that potential LPs (ie Pension Funds) can make rational, apples to apples decisions on how to allocate their capital. This opaque fee structure enriches the PE firms, even when their performance is below less risky benchmarks. Time to start holding this industry and population accountable. No excuses not to.