Blackstone Group LP will pay almost $39 million to settle claims stemming from a U.S. regulator’s industrywide investigation into whether private equity firms put their own interests ahead of investors’.On the same story Fortune added
Back in June, fellow private equity giant Kohlberg Kravis Roberts & Co. KKR settled with the SEC over charges that it breached fiduciary duty to investors in its flagship private equity funds between 2006 and 2011.Blackstone and KKR are two of the private equity underwriters sponsoring a veterans employment event in D.C. with First Lady Michelle Obama a headline speaker. Carlyle Group and TPG are the other sponsors. My question is how many WWII and Vietnam War veterans were harmed by PEU affiliates since 2000?
Private equity firms put their interests first. Greed and power will use anyone or anything. There is no policeman on this beat.