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Due to the high level of sophistication in corporate restructuring and the image that PE companies have given of being reckless corporate raiders, many unions as well as politicians have insisted more stringent regulations and restrictions to be placed on them.
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The US Department of Justice is investigating possible anti competitive behaviors and collusion amongst big buyout firms. For this reason in the US the lobby group “Private Equity Council” has been established. Several charity organizations have been established in the UK to improve their corporate image.
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Improving corporate performance is especially important in the UK, where private equity firms are under increasing attack by trade unions as well as Labour Party politicians. Last year protesters were following Permira Managing Partner Damon Buffini around his home demonstrating against job cuts. Unions are putting pressure on the government to change the tax status. The reality is that buyout funds actually create jobs and make maturing companies more efficient.
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