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ARTICLE · 29 JULY 2019

Lawmakers Introduce Bill To Regulate Change In Control Transactions

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Senators Elizabeth Warren, Tammy Baldwin and Sherrod Brown, and Representatives Mark Pocan and Pramila Jayapal introduced a bill to govern the private funds that engage in change in control transactions.

United StatesEmployment and HR
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Senators Elizabeth Warren (D-MA), Tammy Baldwin (D-WI) and Sherrod Brown (D-OH), and Representatives Mark Pocan (D-WI) and Pramila Jayapal (D-WA) introduced a bill to govern the private funds that engage in change in control transactions.

According to the bill's sponsors, private equity funds, which claim to earn high returns for investors and make companies more efficient, often do not serve either's best interest. Highlighting high profile bankruptcies of Toys "R" Us, Sears and Payless, the sponsors stated that private equity funds often (i) put the companies they buy into debt, (ii) sell off assets and (iii) guarantee payouts for themselves through "exorbitant fees," regardless of how the investments perform.

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