Find more information on the issues deeply affected by private equity investments:
The COVID-19 pandemic poses an unprecedented risk for people who are incarcerated or detained. Prisons and jails are breeding grounds for infection as people are crowded into tight quarters and forced to share cells and showers, making social distancing impossible…
(pdf version) Over the last several years, the private equity and private funds industry has grown dramatically and, in the process, has come to touch more and more aspects of people’s lives. Private market assets under management hit an…
Over the past few decades, the number of Americans incarcerated in jails has swelled, contributing significantly to the nation’s mass incarceration crisis. On any given day, more than 400,000 people are in jail even though they have not been convicted…
American Securities’ GTL, the largest correctional telephone and communications provider, has faced scrutiny for exorbitant phone and video-calling rates, flaunting legal protections, allegedly bribing government officials, and growing regulatory risk. Full report available here. Key Points: American Securities’ ownership…
Private equity firm Platinum Equity owns Securus, one of the largest prison and jail phone and communications companies. Securus has drawn criticism from advocates for charging exorbitant fees and call rates to families with incarcerated relatives, costs that disproportionately…
In late October, Gerard Boyle, the founder of Wellpath, a prison and detention healthcare company owned by private equity firm HIG Capital, was indicted on federal bribery charges along with Robert McCabe, the former Norfolk, Virginia Sheriff. According…
In buying up and combining two correctional service companies, Trinity and Keefe, HIG Capital’s TKC has an incentive to serve poor quality meals, which have been blamed in part for protests, contract terminations, and increased public health risks. Our new…
Private equity firm Platinum Equity acquired Securus, one of the largest phone and communications companies for jails and prisons, in November 2017. Securus has drawn criticism for charging exorbitantly high call rates and fees to incarcerated people and their support…
Earlier this week, Senator Elizabeth Warren and Representatives Alexandria Ocasio-Cortez and Mark Pocan sent letters to several private equity firms profiting from incarceration and detention. Apax Partners, which owns electronic monitoring company Attenti, pushed back, insisting its investment…
Our new report looks at the risks of private equity firm H.I.G. Capital’s investment in prison and detention center healthcare provider Wellpath. Key Points: Over the past several years, private equity firm HIG Capital has built up one of…
Representatives of civil rights group Color of Change, Service Employees International Union Local 925 and the Private Equity Stakeholder Project spoke last Thursday at the Washington State Investment Board to urge the board to halt investments with private…
Private Equity firm Platinum Equity owns Securus, one of the largest providers of phone, email, money transfer, and electronic monitoring services to jails, prisons and immigration detention centers in the U.S. In May, the Pennsylvania Public School Employees Retirement…
