Private Equity’s Pension-Plan Takeovers Face Backlash

October 31, 2022 by Chris Cumming

Private equity’s aggressive expansion into the insurance industry is facing pushback from some lawmakers and labor unions, who say that buyout firms take too much risk with investments that back workers’ nest eggs.

As low interest rates squeezed insurers over the past decade, private-equity managers moved in to acquire struggling businesses on the cheap. Now, buyout firms back a significant number of insurers and manage many Americans’ life insurance policies and annuities.

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Originally Posted at The Wall Street Journal on October 7, 2022 by Chris Cumming.