New report documents private equity fee racket
A new report by the US Center for Economic and Policy Research, "Fees, Fees and More Fees: How Private Equity Abuses Its Limited Partners and U.S. Taxpayers", documents the astronomical profits appropriated by the funds through abusive fee practices which damage workers and their pension funds, real-economy businesses and taxpayers.
The report shows how the funds (mis)appropriate 'monitoring fees' charged to their portfolio companies and collect dubious 'transaction' fees while violating their fiduciary responsibility to investors (including pension funds), among other practices which also shortchange the tax authorities.