How Private Equity Found Power and Profit in State Capitols
“The Times’s investigation — based on thousands of pages of government records, court papers and securities filings, as well as interviews with borrowers, regulators and executives — pieced together how these seemingly disparate companies fall under the umbrella of one powerful private equity firm. The investigation also shed new light on the tactics these companies have used to reshape laws that hindered their growth. […]”
“Private equity firms, onetime “corporate raiders” that made their name taking over distressed companies, have pushed into activities previously dominated by banks and local governments. This shift has upended the definition of private equity as the industry expands into real estate, infrastructure and lending. […]
“That transformation granted private equity new influence over government.”
Private equity firms have used sophisticated but indirect political maneuvering with state and local entities to smooth the way for growth and revenue.
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