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Never Before Has US Been So Focused on Regulating Private Equity

Nov. 22, 2022, 10:00 AM

Private equity could use a few friends in Washington.

While buyout firms have been busy protecting their lucrative carried interest fee structure in Congress, Biden administration securities, antitrust and broadcast TV regulators have quietly been undermining the industry’s business model by proposing tough rules, slow-walking deals and scrutinizing acquisitions that would consolidate industries or result in job losses.

The attacks come as steep Federal Reserve rate hikes and the threat of recession roil the private equity landscape and sap investor appetite for risky assets such as debt tied to leveraged buyouts. Even as Republicans regain control of the House and ...