Private Equity Profits from Incarceration

This fact sheet details the involvement of private equity firms in the incarceration industry, listing specific companies providing commissary, communications, healthcare, and construction services to millions of incarcerated people across the U.S. and internationally.

• Private equity firms utilize capital from institutional investors, including pension funds, foundations, endowments, and insurance companies, to invest in services for the more than two million people housed in U.S. prisons, jails, and detention facilities.
• While public debate often focuses on publicly-traded companies like CoreCivic and GEO Group, private equity-owned firms providing phone, commissary, and medical services may have a more widespread impact on incarcerated people and their families.
• Specific private equity investments in the sector include HIG Capital, which acquired Keefe/TKC Holdings (commissary), IC Solutions (communications), and Wellpath Healthcare (medical services) between 2012 and 2013.

APA

Creeks, A. (2023). Private Equity Profits from Incarceration. Private Equity Stakeholder Project. https://pestakeholder.org/wp-content/uploads/2023/03/Fact-sheet-final-2023.pdf

Chicago

Creeks, Azani. Private Equity Profits from Incarceration. Private Equity Stakeholder Project, 2023. https://pestakeholder.org/wp-content/uploads/2023/03/Fact-sheet-final-2023.pdf.

Wikipedia

{{cite report |last1=Creeks |first1=Azani |title=Private Equity Profits from Incarceration |publisher=Private Equity Stakeholder Project |date=March 2023 |url=https://pestakeholder.org/wp-content/uploads/2023/03/Fact-sheet-final-2023.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{creeks2023private, author = {Creeks, Azani}, title = {{Private Equity Profits from Incarceration}}, institution = {Private Equity Stakeholder Project}, year = {2023}, month = mar, url = {https://pestakeholder.org/wp-content/uploads/2023/03/Fact-sheet-final-2023.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }