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Title: Fees, Fees and More Fees: How Private Equity Abuses Its Limited Partners and U.S. Taxpayers Author: Eileen Appelbaum and Rosemary Batt Source: Center for Economic and Policy Research (CEPR)

*Date:* May 12, 2016 Summary: The private equity industry receives billions of dollars in income each year from a variety of fees that it collects from investors as well as from companies it buys with investors’ money. This fee income has come under increased scrutiny from investigative journalists, institutional investors in these funds, the Securities and Exchange Commission (SEC), the Internal Revenue Service (IRS), and the tax-paying public. Since 2012, private equity firms have been audited by the SEC; as a result, several abusive and possibly fraudulent practices have come to light.

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