Truthout : Labor Organizers Launch a New Model for the Fight Against Private Equity
PESP’s and United for Respect’s May Day action and Labor Rights platform were featured in an investigative piece by Truthout…
Explore the issues
Find more information on the issues deeply affected by private equity investments:
Private Equity Labor Rights Platform
Click here to sign on to PESP’s platform for Labor Rights. Download a copy of our Labor Rights platform here. The private equity industry must correct its course and improve its treatment of workers. Focused on…
PESP responds to SEC Expansion of Form PF
On Wednesday, May 3, 2023, the U.S. Securities and Exchange Commission (SEC) adopted new amendments to enhance private fund reporting. According to the SEC, the rule amendments will “enhance the ability of the Financial Stability Oversight Council (FSOC) to…
Carlyle Group fundraising drops by half as head of private equity, other executives depart
Private equity firm The Carlyle Group reported earlier this week that its fundraising declined by 48% over the last twelve months through March 2023.[1] Carlyle reported raising $27.6 billion during the twelve months ending March 31, 2023…
May Day 2023: Private Equity Labor Rights Platform Launches, PESP and United for Respect visit PE firms’ headquarters in NYC
Private Equity Stakeholder Project and United for Respect launched its labor rights platform this week on International Workers’ Day. Knowing that the private equity industry must correct its course and improve its treatment of workers, PESP and members…
What Silicon Valley Bank’s collapse means for private equity
What Silicon Valley Bank’s collapse and bailout mean for private equity, and how regulators can prevent a future crisis Silicon Valley Bank collapsed on March 10, 2023 following a dramatic bank run. Regulators had to step in to contain the…
Blackstone sees dramatic decline in buyout fundraising, increased attention to child labor charges
Private equity and real estate giant the Blackstone Group launched fundraising a year ago for Blackstone Capital Partners IX, its next flagship buyout fund, seeking to raise as much as $30 billion.[1] Yet Blackstone’s most recent quarterly…
Large investors challenge Blackstone over child labor
Some of private equity firm Blackstone’s largest investors have increased scrutiny of the private equity firm after Blackstone-owned slaughterhouse cleaning company Packers Sanitation Services (PSSI) in February paid a $1.5 million US Department of Labor (DOL) fine for “oppressive…
Sycamore Partners fails to respond to Guatemala labor dispute
Sycamore Partners has ignored multiple messages since November 2022 from Private Equity Stakeholder Project and worker organizations requesting a meeting to discuss how they can improve conditions for the workers they employ and those in their supply chain.
The Lever: Workers Are Funding Private Equity’s Child Labor Exploitation
The Lever reported on how public officials have been using the retirement savings of unionized teachers, firefighters, and police officers to capitalize — and help Wall Street executives profit from — an outsourcing business that has used low-paid immigrants…
Private Equity-Owned Companies Face Child Labor Investigations, Charges
The Department of Labor (DOL) has recently launched investigations into at least two private equity-owned companies that have employed children in dangerous working conditions: Packers Sanitation Services (PSSI), owned by Blackstone, and Hearthside Food Solutions, owned by Charlesbank Capital and…
Workers visit KKR headquarters to continue pressuring KKR-owned Refresco to improve safety and working conditions
Workers from the Refresco bottling plant in Wharton, NJ, attempted to bring their concerns about conditions in their plant to the corporate headquarters of private equity firm KKR today. It was the second attempt…
