Explore the issues
Find more information on the issues deeply affected by private equity investments:
Private equity’s AI gold rush comes at a cost
The AI Infrastructure Gold Rush Is Becoming a Private Equity Gold Rush—and Communities Will Bear the Costs Everyone is discussing AI. Behind every AI model, however, lies a rapidly expanding physical infrastructure: massive data centers, power plants, transmission…
Ratepayers continue fighting rate hikes at PE-backed utilities
Across the United States, communities are increasingly confronting the consequences of private equity ownership of essential utilities. As financial firms acquire water and electric systems, they often promise fresh capital, improved infrastructure, and operational efficiencies. Yet many of…
Michigan Advance op-ed: The BX data center push
Should Michigan be handing its resources to Blackstone? Before dedicating land, water, electricity, and public support to the massive Saline data center, state leaders should…
Private equity investments in LNG terminals face mounting risks
Private equity firms fund risky LNG projects despite severe market volatility and community opposition In June 2026, ownership data for 46 private equity-backed liquefied natural gas (LNG) terminals were updated in the Private…
NM PRC ruling raises doubts about Blackstone’s PNM utility takeover
New Mexico PRC ruling raises new doubts about Blackstone’s PNM takeover Commission finds Blackstone and TXNM violated state law, orders companies to unwind illegal stock transaction SANTA FE, N.M. — The Private Equity Stakeholder Project (PESP)…
ABQ Journal op-ed: Blackstone’s PNM takeover
Blackstone’s track record is why PRC should reject takeover The following op-ed by PESP Senior Research Coordinator Nichole Heil published in June in the Albuquerque Journal: New Mexico is among the states most exposed to private equity ownership across essential…
Another incredible year for PESP
We’re proud to share the Private Equity Stakeholder Project’s latest Impact Report. Private equity and other private funds have grown substantially in recent years and now control over $24 trillion in assets…
JPMorgan’s dual role at El Paso Electric, Meta El Paso data center
On June 9, Nichole Heil of PESP provided the below testimony to the El Paso, Texas City Council regarding the proposed Meta data center: Good morning. My name is Nichole with the Private Equity Stakeholder Project. We are a nonprofit…
NM recommendation shows why Blackstone should not own PNM utility
PESP: New Mexico recommendation shows why Blackstone should not own PNM utility Hearing examiners’ finding that Blackstone and TXNM violated state law raises new doubts about proposed utility takeover Santa Fe, NM — The Private Equity…
Investors continue retreat from private markets
Investors continue retreat from private markets in 2026, underperformance persists Public pension funds have continued to scale back their exposure to private equity in 2026, a trend responding to the asset class’s anemic returns and weakening economic outlook overall.
Michigan data center buildout facilitated by private equity
Private equity firms have spent nearly $200 billion on data center deals and have been behind 80 to 90 percent of completed mergers and acquisitions in the data center-related industries in the past…
