U.S. Unions Call for Tougher SEC Oversight of Private Equity

Labor union leaders representing 8.5 million U.S. workers are calling for stricter rules for the fast-growing private-equity industry.

In a letter to Securities and Exchange Commission Chair Gary Gensler, unions acting on behalf of teachers and state employees said they want more transparency from private equity, as well as tougher consequences when firms break the rules. Pension funds for public sector workers are among the industry’s largest investors and union members often sit on fund boards where they have a vote on how assets are invested.

The demands are the latest sign of rising scrutiny for private equity after ...