PESP in the News – June 2025

July 15, 2025

PESP’s work and research into the private equity industry generates significant media coverage in numerous outlets. Scroll down to see where our expertise was featured in June 2025.

Featured coverage

Why Is BlackRock Gunning to Take Over a Minnesota Electric Utility?
Truthout
June 27, 2025

PESP’s testimony against the acquisition of a Minnesota utility by BlackRock-owned Global Infrastructure Partners was cited in a June article in Truthout:

“Jim Baker, executive director of the Private Equity Stakeholder Project, a nonprofit watchdog group focused on private equity, testified on behalf of CURE to the Minnesota PUC that “private equity ownership of Minnesota Power may be a more expensive way to raise capital than through public markets investments because of the high target annual return and cash yield expected to be paid out to GIP Fund V investors.”

What Happens When Private Equity Comes to Your Town’s Hospital
More Perfect Union
June 26, 2025

PESP Healthcare Director Mary Bugbee was featured in More Perfect Union’s deep dive into the devastating closure of Crozer Health, a nonprofit safety net hospital system that was bought out by Leonard Green & Partners in 2016 and converted to for-profit.

“Instead of putting money into these systems, [private equity is] actually taking money out of the systems,” Mary explained. “It’s not profitable to provide healthcare at a hospital with a disproportionate number of people on Medicaid. And if we don’t want that to be the case anymore, we’re going to need to find a way to finance healthcare that doesn’t allow investors to swoop in and extract from these systems before they finally go under.”

States crack down on private equity’s role in hospital collapses
Pluribus News
June 9, 2025

PESP Policy Director Chris Noble comments on legislative trends aimed at PE’s role in healthcare closures:

“We have seen a trend in terms of the bills becoming a bit more complex, having a bit more force,” said Chris Noble, policy director at the nonprofit Private Equity Stakeholder Project.”

“Private equity-backed companies accounted for 21% of all health care bankruptcies in 2024, and seven of the eight largest health care bankruptcies had a history with a private equity backer, according to Private Equity Stakeholder Project research.”