Private equity groups are accused today of producing disappointing returns while charging their investors fat fees amid glaring conflicts of interest in one of the most scathing critiques of the industry published to date.
The attack makes the case that the industry has underperformed stockmarkets, taken excessive risks and overcharged investors.
The report from the Centre for the Study of Financial Innovation, a London-based think-tank, is likely to reignite the debate about the social value of leveraged buy-outs.
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