E-Mails Show Major Private Equity Giants Colluded, Suit Claims
Thursday, October 11, 2012
Some of the world’s largest private equity firms — Blackstone Group and Kohlberg Kravis Roberts, among others — are accused of colluding in a civil suit that points to e-mails showing the rivals may have been driving down profits during a period of buyouts.
The e-mails were part of a Wednesday court filing in a suit against 11 private equity firms that was filed in Federal District Court in Boston in 2007, according to the New York Times.
Bain Capital, founded by Republican presidential nominee Mitt Romney, is also named in the suit.
The equity firms deny acting improperly.