U.S. antitrust regulators may be coming for private equity.
Several large buyout firms have received Justice Department inquiry letters about partners sitting on multiple portfolio company board seats within the same industry, according toDOJ's concern reportedly is that this overlap "could influence those companies to act in ways that maximize gains for all — instead of competing vigorously to provide the best services or lowest prices to consumers.
Were overlapping board seats to violate U.S. antitrust law, then the same argument could apply to overlapping investments.
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