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The report examines the rise of private equity (PE) investment in the U.S. assisted living sector, highlighting a significant regulatory gap compared to nursing homes. It details the activities of major firms like KKR, Bain Capital, Harrison Street, and Kayne Anderson, who have deployed billions into senior housing through real estate funds and REITs. The author contends that the PE model of seeking high short-term returns is incompatible with long-term care, potentially leading to increased rents, reduced staffing, and diminished care quality for older adults.

The document examines how private equity firms have consolidated the Durable Medical Equipment (DME) market using debt-funded growth, leading to cost-cutting measures that result in understaffing, repair delays for wheelchair users, and healthcare billing fraud. It profiles specific PE-owned companies and proposes policy recommendations to mitigate these harms, such as supporting right-to-repair legislation and improving Medicare reimbursement.

The report examines various legislative attempts to curb the growth of corporate landlords in the US, focusing on strategies to deconsolidate the housing market. It analyzes proposed and enacted measures such as ownership caps in North Carolina, excise taxes in California and Ohio, and right of first refusal laws in California and Colorado. While many of these bills failed in committee due to political opposition, the report highlights successful examples like Los Angeles's 'mansion tax' and Colorado's protections for manufactured housing residents as models for future housing justice efforts.

The report details a pattern of negative publicity surrounding CIM Group, focusing on tenant mistreatment in Virginia, DC, and Colorado; the gentrification of minority neighborhoods in Los Angeles and New York City; construction defects in luxury towers; and ethically questioned business ties to Donald Trump and Jared Kushner. It further highlights the resulting pressure on public pension funds, such as CalPERS, to divest from the firm due to these controversies and past allegations of bribery involving placement agents.

The report argues that private equity firms have consolidated the US Durable Medical Equipment (DME) industry, using high-debt strategies that lead to severe cost-cutting. This has resulted in delayed critical repairs for wheelchair users, fraudulent billing practices in respiratory care, and active lobbying against 'right to repair' legislation. The authors recommend state and federal interventions to ensure timely repairs, combat fraud, and limit industry consolidation.

The Private Equity Labor Scorecard evaluates eleven major US private equity firms, finding that all received a grade of 'C' or lower, with seven failing. The report identifies a pattern of hazardous labor practices, including significant OSHA and wage violations, mass layoffs, and a lack of union presence in many portfolios. It argues that these practices create financial and reputational risks for investors, particularly pension funds, and calls for the adoption of portfolio-wide labor standards.

The Private Equity Stakeholder Project argues that The Carlyle Group lacks transparency in its climate reporting by excluding its majority-owned subsidiary, NGP Energy Capital, from its ESG and net zero goals. The document notes that Carlyle has lagged behind peers in renewable energy fundraising and invested $16 in fossil fuels for every $1 invested in renewables between 2011 and 2021. It specifically highlights NGP's impact in New Mexico, where its portfolio company Tap Rock Resources has a history of emitting pollutants, and notes that Carlyle received $145 million in carried interest from NGP over the past year.

The report details the corporate restructuring of Corizon Health into two entities, YesCare and Corizon (later Tehum Care Services), in May 2022. This 'Texas two-step' maneuver allocated the majority of legal liabilities and service provider contracts to the original Corizon entity while transferring cash, employees, and active client contracts to YesCare. In February 2023, Corizon filed for bankruptcy, pausing numerous lawsuits alleging medical malpractice and wrongful death. The report argues that this process allows the private equity-owned company to evade up to $50 million in liabilities and avoid reputational damage while continuing operations under the YesCare brand.

The report details how private equity firms utilize institutional capital to invest in companies providing healthcare, labor, food, electronic monitoring, telecommunications, and construction services for the U.S. detention and surveillance industry. It argues that these investments often lead to substandard care, exploitative wages, and inflated costs for captive audiences, disproportionately affecting working-class, Black, indigenous, and immigrant communities.

The Private Equity Stakeholder Project and Action NC urge the North Carolina State Treasurer to implement guidelines for housing investments to protect residents from corporate landlord practices. The letter highlights that the North Carolina Retirement System (NCRS) has invested billions in private equity firms like Landmark Partners, Blackstone, Meadow Partners, and Brookfield Asset Management, which are linked to aggressive evictions, poor maintenance, and steep rent hikes in North Carolina and other U.S. cities.

Private equity investments in nearly 2,700 oil and gas wells on federal and tribal lands in the western United States could leave taxpayers with cleanup costs up to $384 million. The report identifies 19 private equity firms, including Blackstone and Carlyle Group, that invested in 35 companies permitted to drill on federal lands since 2017. Current regulations only require companies to set aside approximately $5.7 million for cleanup, representing 1.5% of the estimated total cost. Colorado and New Mexico face the highest potential liabilities, with estimated cleanup bills of $161 million and $108 million, respectively.

The Private Equity Stakeholder Project (PESP) calls on Blackstone to implement enforceable labor standards across its global portfolio after the US Department of Labor found systemic child labor violations at Blackstone-owned Packers Sanitation Services Inc (PSSI). Despite initial denials, PSSI eventually reached an agreement with the United Food and Commercial Workers Union (UFCW) to protect workers' rights to organize. PESP asserts that child labor is a byproduct of broader issues like low wages and dangerous conditions, and urges Blackstone to adopt the Private Equity Labor Rights Platform and cease union-busting tactics.

The report argues that private equity firms have consolidated the disaster restoration market, leading to a decline in workplace standards and community protections. It details systemic wage theft, numerous OSHA safety violations—particularly regarding asbestos—and the paradox of firms profiting from disaster cleanup while owning high-emitting fossil fuel assets. The document calls for legislative action, such as the Climate Resilience Workforce Act, and stricter labor standards for private equity owners.

The report identifies 19 private equity firms investing in 35 oil and gas companies that have received federal drilling permits since 2017. It estimates that U.S. taxpayers could face up to $384 million in cleanup costs for nearly 2,700 wells operated by these private-equity-backed companies across eight states, with Colorado and New Mexico facing the highest liabilities. The authors argue that the private equity business model—characterized by high leverage and quick exits—combined with outdated federal bonding requirements (averaging only $2,122 per well) and bankruptcy laws, allows firms to externalize environmental costs. The document also highlights 'greenwashing' strategies, such as the promotion of 'certified gas,' used to maintain investor support despite ongoing fossil fuel expansion.

The Private Equity Stakeholder Project (PESP) argues that private equity ownership of rental housing increases risks to tenants, citing examples of steep rent hikes, inadequate maintenance, and abusive eviction practices by firms like CIM Group, The Blackstone Group, and Progress Residential. PESP recommends that the FHFA establish a public rental registry for beneficial owners, cap annual rent increases at 3%, mandate habitability standards, and codify tenant rights, including just-cause eviction and the right to organize.

The Private Equity Stakeholder Project alleges that Brookfield Asset Management's portfolio companies, including Westinghouse and Accor Hotels, have employed coercive anti-union tactics, such as misleading videos, surveillance, and the hiring of union avoidance firms, despite Brookfield's public ESG commitments.

The report details how Pipeline Health, backed by firms including Stanton Road Capital, Davidson Kempner Capital Management, and Deerfield Management, utilized sale-leaseback transactions and complex subsidiary structures to monetize hospital real estate. It highlights the closure of Westlake Hospital in Illinois, which occurred despite promises to regulators, and the sale of Weiss Memorial Hospital's parking lot for luxury housing. The document concludes that these practices led to Pipeline's own Chapter 11 bankruptcy in 2022 and recommends stricter state and federal oversight of private equity acquisitions of safety net hospitals.

The report details how Pipeline Health utilized sale-leaseback transactions to monetize hospital real estate and employed a complex web of subsidiaries to obscure ownership. It specifically highlights the closure of Westlake Hospital in Illinois, which the report claims was planned prior to acquisition despite assurances to regulators, and the sale of Weiss Memorial Hospital's parking lot for luxury housing development.

The report argues that Progress Residential has extracted over $60 million in wealth from Hennepin County, specifically targeting starter homes in the historically Black neighborhood of North Minneapolis. This extraction occurred through home value appreciation and the collection of monthly rents, which prevented working-class families from building equity. The document also details systemic maintenance failures, high tenant fees, and the broader context of racial disinvestment in North Minneapolis.

The Private Equity Stakeholder Project (PESP) outlines a labor rights platform calling for private equity firms to adopt a sustainable living wage, provide layoff protections, and ensure safe, non-discriminatory working conditions. The document highlights the industry's significant impact, noting it manages $11 trillion in assets and employs over 11.7 million American workers. PESP specifically urges public pension funds and institutional investors to hold anti-worker private equity firms accountable and establish mechanisms to manage human capital risks.