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T.H. Lee Partners Fundraises for Itself Even as it Fails at Promise to Raise Funds for Laid Off Art Van Furniture Workers
In January, private equity firm Thomas H Lee Partners launched fundraising for its newest flagship buyout fund, Thomas H Lee Equity Fund IX, seeking to raise $4.25 billion. T.H. Lee has enlisted placement agent Rede Partners to aid…
Private Equity Health Care Acquisitions – January 2021
In light of the growing investor interest in health care and the risks associated with private equity ownership of health care companies, the Private Equity Stakeholder Project will be tracking private equity-backed health care acquisitions. Below is a list…
Blackstone Collects Debt-Funded Dividend from Apria Healthcare Within Weeks of Billing Fraud Settlement
Apria Healthcare provides home respiratory therapy, home infusion therapy and home medical equipment. Private equity firm the Blackstone Group has owned Apria since it took the company private in October 2008.[i] In December, as the COVID-19 pandemic spiked in…
Private Equity-Backed Companies Dominate 2020 Oil and Gas Bankruptcies
Private equity-backed companies comprised the majority of oil and gas producer bankruptcies in 2020. Of the companies that filed for bankruptcy last year, 57 percent are backed by private equity firms, or 26 of the 46 filings.[1] The high…
New Report Shows Government Subsidies to Corporate Landlords Did Not Slow Evictions, But Made Them Worse
The nation’s largest corporate landlords received about $320 million in federal COVID-19 relief subsidies, but still filed thousands of evictions — even during the CDC moratorium. After months of research into eviction data and COVID-19 subsidies, Jobs With Justice…
Illinois, Oregon State Treasurers Call on Private Equity Firms to Explain How They Will Manage Risks in Acquiring G4S
Treasurers Demand Public Input in Proposed Corporate Merger Creating the Third Largest Employer Private equity firms Warburg Pincus and BC Partners should explain how they will manage risks related to workers if they are successful in acquiring G4S, a security…
New Report Shows Government Subsidies to Corporate Landlords Did Not Slow Evictions, But Made Them Worse
The nation’s largest corporate landlords received about $320 million in federal COVID-19 relief subsidies, but still filed thousands of evictions — even during the CDC moratorium. After months of research into eviction data and COVID-19 subsidies, Jobs With Justice…
H.I.G. Capital’s Mental Health Company Files for Bankruptcy Amid Fraud Litigation
Private equity firm H.I.G. Capital’s mental health company Community Intervention Services (CIS) filed for bankruptcy earlier this month amid ongoing litigation alleging fraud by H.I.G. related to its ownership of the company. H.I.G. established Community Intervention Services in…
Blackstone’s Stephen Schwarzman Has Repeatedly Supported Donald Trump Despite His Growing Hate Speech, Calls for Violence, and Authoritarianism
On Wednesday, January 6, 2021, Blackstone Group Chairman and CEO Stephen Schwarzman condemned the mob that stormed the US Capitol to disrupt the certification of election results, though he stopped short of condemning President Donald Trump’s role in inciting the…
Petco’s IPO: All Bark and No Bite?
The private equity-owned retailer’s market share has shrunk and staffing cuts mean employees are stretched Private equity-owned pet supply retailer Petco is seeking to raise $744 million this week through an initial public offering (IPO).[1] In recent months,…
Private Equity Health Care Acquisitions – December 2020
In light of the growing private equity acquisitions of health care companies and the risks associated with private equity ownership of health care providers, the Private Equity Stakeholder Project will be tracking private equity-backed health care acquisitions. Below is…