The Atlantic : The Secretive Industry Devouring the U.S. Economy

In The Atlantic piece, “The Secretive Industry Devouring the U.S. Economy,” author Rogé Karma examines how private equity has taken one-fifth of formally publicly-traded companies off the market and effectively hidden them from investors, the media, and regulators. While Karma does an effective job breaking down why this is a dangerous precedent, industry pushes back in the piece. Stating “that the horror stories are exaggerated and that a handful of problematic firms shouldn’t tarnish the rest of the industry, which is doing great work. Freed from onerous disclosure requirements, they claim, private companies can build more dynamic, flexible businesses that generate greater returns for shareholders.”

The Atlantic October 30, 2023: The Secretive Industry Devouring the U.S. Economy

PESP Investor Engagement Director Alyssa Giachino refutes these industry talking points in the story:

“These companies basically get to write their own stories. They produce their own reports. They come up with their own numbers. And there’s no one making sure they are telling the truth.”

You can see the full story here: https://www.theatlantic.com/ideas/archive/2023/10/private-equity-publicly-traded-companies/675788/