The unions have launched a fresh assault on the private equity industry with an investigation into how many of Britain’s private equity-owned companies are faring as the credit crunch bites, Telegraph reports.
Ahead of the upcoming political party conference season, the TUC has commissioned research into how private equity-owned companies, which they view as overburdened with debt, are managing in the more challenging economic climate.
The TUC has also made discussion on indebtedness a priority at a special Tuesday morning session on private equity at its annual Congress, which begins tomorrow.
“The issue in some ways has moved on for us,” says Adam Lent, the TUC’s head of economic and social affairs. “It’s not just the buyout houses, but also the companies owned by private equity that we are concerned about. Our main concerns are about jobs and conditions, and about the amount of debt placed on companies’ books.”