Private Equity Stakeholder Project
@pestakeholder.bsky.social
Uplifting the voices of workers, communities, tenants, and others impacted by private equity. Est 2017.
Walgreens is already smaller under private equity.
Since Sycamore Partners took over:
• 9,000 fewer workers
• 500 fewer stores
After cutting worker holiday pay, the question is whether more cuts are coming.
🔗 pestakeholder.org/news/are-ear...
Since Sycamore Partners took over:
• 9,000 fewer workers
• 500 fewer stores
After cutting worker holiday pay, the question is whether more cuts are coming.
🔗 pestakeholder.org/news/are-ear...
January 27, 2026 at 10:25 PM
Walgreens is already smaller under private equity.
Since Sycamore Partners took over:
• 9,000 fewer workers
• 500 fewer stores
After cutting worker holiday pay, the question is whether more cuts are coming.
🔗 pestakeholder.org/news/are-ear...
Since Sycamore Partners took over:
• 9,000 fewer workers
• 500 fewer stores
After cutting worker holiday pay, the question is whether more cuts are coming.
🔗 pestakeholder.org/news/are-ear...
Health care is a human need, not a piggy bank for private equity, says PESP healthcare director Mary Bugbee. Yet profit-hungry investors are able to raid critical health care infrastructure and siphon out millions while patients, workers and communities pay the price.
Commentary: To prevent our safety-net hospitals from collapsing, keep private equity out of them
Lawmakers must act to pass legislation that protects our critical healthcare infrastructure, writes the healthcare director for the Private Equity Stakeholder Project.
www.chicagobusiness.com
January 26, 2026 at 10:03 PM
Health care is a human need, not a piggy bank for private equity, says PESP healthcare director Mary Bugbee. Yet profit-hungry investors are able to raid critical health care infrastructure and siphon out millions while patients, workers and communities pay the price.
Privatization in schools is an ongoing issue that weakens schools, introducing profit motives to spaces that should prioritize student wellbeing over all else. pestakeholder.org/news/educato...
Educators’ union in Bay Area school district wins big for students after strike
In December, educators and support staff in a Bay Area school district went on strike for the first time in district history, citing expenditures to outside contractors as one of the reasons for the…
pestakeholder.org
January 23, 2026 at 10:16 PM
Privatization in schools is an ongoing issue that weakens schools, introducing profit motives to spaces that should prioritize student wellbeing over all else. pestakeholder.org/news/educato...
Some public pension funds are shrinking private equity allocations as returns lag and liquidity risks rise.
If pensions are growing more wary of private equity, why should workers want it in their 401(k)s?
New research from PESP ⬇️
pestakeholder.org/news/public-...
If pensions are growing more wary of private equity, why should workers want it in their 401(k)s?
New research from PESP ⬇️
pestakeholder.org/news/public-...
January 22, 2026 at 11:01 PM
Some public pension funds are shrinking private equity allocations as returns lag and liquidity risks rise.
If pensions are growing more wary of private equity, why should workers want it in their 401(k)s?
New research from PESP ⬇️
pestakeholder.org/news/public-...
If pensions are growing more wary of private equity, why should workers want it in their 401(k)s?
New research from PESP ⬇️
pestakeholder.org/news/public-...
Climate leadership is about decisions, not just language.
PESP's Amanda Mendoza examines the gap between PM Mark Carney’s climate rhetoric and his record.
Read the op-ed: www.nationalobserver.com/2026/01/21/o...
PESP's Amanda Mendoza examines the gap between PM Mark Carney’s climate rhetoric and his record.
Read the op-ed: www.nationalobserver.com/2026/01/21/o...
January 22, 2026 at 2:01 PM
Climate leadership is about decisions, not just language.
PESP's Amanda Mendoza examines the gap between PM Mark Carney’s climate rhetoric and his record.
Read the op-ed: www.nationalobserver.com/2026/01/21/o...
PESP's Amanda Mendoza examines the gap between PM Mark Carney’s climate rhetoric and his record.
Read the op-ed: www.nationalobserver.com/2026/01/21/o...
We’re hiring!
PESP is looking for a Senior Healthcare Research and Campaign Coordinator to help advance accountability in the healthcare industry..
Fully remote (U.S.)
Apply by Feb. 20, 2026: bit.ly/PESPjobs
PESP is looking for a Senior Healthcare Research and Campaign Coordinator to help advance accountability in the healthcare industry..
Fully remote (U.S.)
Apply by Feb. 20, 2026: bit.ly/PESPjobs
January 21, 2026 at 11:02 PM
We’re hiring!
PESP is looking for a Senior Healthcare Research and Campaign Coordinator to help advance accountability in the healthcare industry..
Fully remote (U.S.)
Apply by Feb. 20, 2026: bit.ly/PESPjobs
PESP is looking for a Senior Healthcare Research and Campaign Coordinator to help advance accountability in the healthcare industry..
Fully remote (U.S.)
Apply by Feb. 20, 2026: bit.ly/PESPjobs
Climate accountability is moving from pledges to courtrooms.
New cases in France and Canada suggest greenwashing and climate risk claims are no longer just theoretical.
pestakeholder.org/news/landmar...
New cases in France and Canada suggest greenwashing and climate risk claims are no longer just theoretical.
pestakeholder.org/news/landmar...
January 20, 2026 at 10:33 PM
Climate accountability is moving from pledges to courtrooms.
New cases in France and Canada suggest greenwashing and climate risk claims are no longer just theoretical.
pestakeholder.org/news/landmar...
New cases in France and Canada suggest greenwashing and climate risk claims are no longer just theoretical.
pestakeholder.org/news/landmar...
"The road ahead for Walgreens appears to be a bumpy one."
- PESP executive director Jim Baker
chicago.suntimes.com/other-views/...
- PESP executive director Jim Baker
chicago.suntimes.com/other-views/...
The future of Walgreens, an iconic Chicago drugstore, looks grim
The pharmacy and retail store now counts itself as one of thousands of portfolio companies owned by private equity, an industry renowned for its profits-first, people-last approach to business.
chicago.suntimes.com
January 16, 2026 at 12:34 AM
"The road ahead for Walgreens appears to be a bumpy one."
- PESP executive director Jim Baker
chicago.suntimes.com/other-views/...
- PESP executive director Jim Baker
chicago.suntimes.com/other-views/...
The NYT reports a major shift in how air pollution rules are evaluated.
At the same time, our research has documented the real-world health impacts of fossil fuel pollution: from hospital visits to lost work and school days.
Climate policy is also health policy.
www.nytimes.com/2026/01/12/c...
At the same time, our research has documented the real-world health impacts of fossil fuel pollution: from hospital visits to lost work and school days.
Climate policy is also health policy.
www.nytimes.com/2026/01/12/c...
E.P.A. to Stop Considering Lives Saved When Setting Rules on Air Pollution
In a reversal, the agency plans to calculate only the cost to industry when setting pollution limits, and not the monetary value of saving human lives, documents show.
www.nytimes.com
January 15, 2026 at 10:36 PM
The NYT reports a major shift in how air pollution rules are evaluated.
At the same time, our research has documented the real-world health impacts of fossil fuel pollution: from hospital visits to lost work and school days.
Climate policy is also health policy.
www.nytimes.com/2026/01/12/c...
At the same time, our research has documented the real-world health impacts of fossil fuel pollution: from hospital visits to lost work and school days.
Climate policy is also health policy.
www.nytimes.com/2026/01/12/c...
Every single American deserves to live in dignity in stable, secure housing without fear of exploitation, whether they live in a house, a mobile home, or an apartment. pestakeholder.org/news/pesp-st...
PESP statement on Trump’s proposed ban on institutional investor purchases of single-family homes
Today, President Donald Trump announced in a Truth Social post that he would move to ban large institutional investors from buying single family homes in the future. In recent years…
pestakeholder.org
January 8, 2026 at 2:04 PM
Every single American deserves to live in dignity in stable, secure housing without fear of exploitation, whether they live in a house, a mobile home, or an apartment. pestakeholder.org/news/pesp-st...
Private equity’s rapid growth paired with deteriorating economics have led to a logjam of zombie companies and mountains of undeployed capital, creating unrelenting headwinds for the once-unstoppable industry. pestakeholder.org/news/public-...
Public pensions shrink private equity as headwinds persist, returns drag
Several large public pensions cut back allocations to private equity in 2025 in the face of the industry’s poor performance and unrelenting headwinds.
pestakeholder.org
January 7, 2026 at 2:59 PM
Private equity’s rapid growth paired with deteriorating economics have led to a logjam of zombie companies and mountains of undeployed capital, creating unrelenting headwinds for the once-unstoppable industry. pestakeholder.org/news/public-...
Already, warning signs are flashing for Walgreens — and the millions of Americans who rely on Walgreens for medicine and more — in the wake of its buyout by private equity firm Sycamore Partners. chicago.suntimes.com/other-views/...
The future of Walgreens, an iconic Chicago drugstore, looks grim
The pharmacy and retail store now counts itself as one of thousands of portfolio companies owned by private equity, an industry renowned for its profits-first, people-last approach to business.
chicago.suntimes.com
January 6, 2026 at 12:30 PM
Already, warning signs are flashing for Walgreens — and the millions of Americans who rely on Walgreens for medicine and more — in the wake of its buyout by private equity firm Sycamore Partners. chicago.suntimes.com/other-views/...
🚨 PRIVATE EQUITY ALERT 🚨 The sudden closure of private equity-owned Sprinkles isn't so sweet for the bakery employees who are now out of a job. www.washingtonpost.com/style/trends...
www.washingtonpost.com
January 5, 2026 at 10:03 PM
🚨 PRIVATE EQUITY ALERT 🚨 The sudden closure of private equity-owned Sprinkles isn't so sweet for the bakery employees who are now out of a job. www.washingtonpost.com/style/trends...
As 2025 comes to a close, consider including PESP in your year-end giving. As the private equity industry drives its roots into every inch of our lives, PESP's work has never been more vital. Help our small but mighty team continue to hold these Wall Street giants accountable in 2026.
Donate now to support our work!
All content © 2025 Private Equity Stakeholder Project PESP. All rights reserved.
pestakeholder.org
December 29, 2025 at 12:30 PM
As 2025 comes to a close, consider including PESP in your year-end giving. As the private equity industry drives its roots into every inch of our lives, PESP's work has never been more vital. Help our small but mighty team continue to hold these Wall Street giants accountable in 2026.
Wealthy investors have been squeezing manufactured housing residents for every last cent, with devastating consequences for them. PESP welcomes Senator Hassan’s investigation and hopes it sheds light on Alden’s Homes of America operation. pestakeholder.org/news/senator...
Senator launches investigation of Alden Global Capital, other corporate owners of manufactured housing
Last week, Senator Maggie Hassan, ranking member of the Joint Economic Committee, launched a probe of six corporate owners of manufactured housing communities, including Alden Global Capital’s Homes…
pestakeholder.org
December 23, 2025 at 7:22 PM
Wealthy investors have been squeezing manufactured housing residents for every last cent, with devastating consequences for them. PESP welcomes Senator Hassan’s investigation and hopes it sheds light on Alden’s Homes of America operation. pestakeholder.org/news/senator...
In October, both California and New York passed legislation for statewide bans on landlord use of RealPage. RealPage has been the subject of controversy due to allegations of artificially inflating rental prices and furthering inequities within the housing market. pestakeholder.org/news/thoma-b...
Thoma Bravo’s RealPage banned in New York and California
Thoma Bravo’s RealPage has been the subject of controversy due to allegations of artificially inflating rental prices and furthering inequities within the housing market.
pestakeholder.org
December 22, 2025 at 6:58 PM
In October, both California and New York passed legislation for statewide bans on landlord use of RealPage. RealPage has been the subject of controversy due to allegations of artificially inflating rental prices and furthering inequities within the housing market. pestakeholder.org/news/thoma-b...
All investors that hope to mitigate impacts to workers, financial risks, and reputational damage should adopt responsible workforce principles that include respecting the right to join a union, fair wages, paid leave, safe working conditions, and protections in the event of layoffs.
Massachusetts pension fund adopts labor policy for private markets
On December 4, the Massachusetts Pension Reserves Investment Management (MassPRIM) Board unanimously adopted[1] a Responsible Workforce Management Policy for private market investments.
pestakeholder.org
December 19, 2025 at 10:16 PM
All investors that hope to mitigate impacts to workers, financial risks, and reputational damage should adopt responsible workforce principles that include respecting the right to join a union, fair wages, paid leave, safe working conditions, and protections in the event of layoffs.
With Denny’s sales already struggling and consumer sentiments at a low point, the debt added to the restaurant chain by this take-private deal could prove difficult to service. TriArtisan Capital has overseen two prominent restaurant chain bankruptcies in as many years: TGI Fridays and Hooters.
PE Files #002: Denny’s gets scrambled into a private equity omelet
PE Files #002: Denny’s PESP’s PE Files take a look at how portfolio companies are impacted by the private equity playbook, from beloved businesses bankrupted to mass layoffs at formerly mom-and-pop…
pestakeholder.org
December 12, 2025 at 2:30 PM
With Denny’s sales already struggling and consumer sentiments at a low point, the debt added to the restaurant chain by this take-private deal could prove difficult to service. TriArtisan Capital has overseen two prominent restaurant chain bankruptcies in as many years: TGI Fridays and Hooters.
PESP's work is more essential than ever, but we can't do it without your support. Make a gift to PESP today to ensure our work continues to be a resource to the communities, individuals, and organizations grappling with the impacts of the private equity industry. pestakeholder.org/news/support...
Support PESP’s transformative work in 2026
Support our efforts to address the threats of private equity to our health, economy, homes, and climate
pestakeholder.org
December 12, 2025 at 12:02 PM
PESP's work is more essential than ever, but we can't do it without your support. Make a gift to PESP today to ensure our work continues to be a resource to the communities, individuals, and organizations grappling with the impacts of the private equity industry. pestakeholder.org/news/support...
🚨 New op-ed alert: The new Walgreens CEO could spell disaster for jobs, access to healthcare, and communities. Read PESP Executive Director Jim Baker’s warning and why this matters now 👇
www.commondreams.org/opinion/new-...
www.commondreams.org/opinion/new-...
Why Walgreens’ New CEO Should Alarm Us | Common Dreams
The man who oversaw massive store closures and job cuts at Staples is now in charge of one of America’s most important companies.
www.commondreams.org
December 11, 2025 at 7:26 PM
🚨 New op-ed alert: The new Walgreens CEO could spell disaster for jobs, access to healthcare, and communities. Read PESP Executive Director Jim Baker’s warning and why this matters now 👇
www.commondreams.org/opinion/new-...
www.commondreams.org/opinion/new-...
Genesis Healthcare is using the bankruptcy process to escape accountability for years of harm, including patient injury and wrongful death claims.
This is not an isolated case. It is a strategy we see across private equity-owned healthcare companies.
Read more: pestakeholder.org/news/genesis...
This is not an isolated case. It is a strategy we see across private equity-owned healthcare companies.
Read more: pestakeholder.org/news/genesis...
December 11, 2025 at 1:15 PM
Genesis Healthcare is using the bankruptcy process to escape accountability for years of harm, including patient injury and wrongful death claims.
This is not an isolated case. It is a strategy we see across private equity-owned healthcare companies.
Read more: pestakeholder.org/news/genesis...
This is not an isolated case. It is a strategy we see across private equity-owned healthcare companies.
Read more: pestakeholder.org/news/genesis...
PESP's Jim Baker spoke to NBC News about the corporate incursion into manufactured housing: “Put simply, wealthy investors are squeezing every last cent from some of our most vulnerable and least-resourced communities in the name of profit.” www.nbcnews.com/business/rea...
Senator launches probe of investment groups buying up trailer parks
The letters seek information about evictions, rent increases and profits at firms acquiring the properties.
www.nbcnews.com
December 10, 2025 at 10:18 PM
PESP's Jim Baker spoke to NBC News about the corporate incursion into manufactured housing: “Put simply, wealthy investors are squeezing every last cent from some of our most vulnerable and least-resourced communities in the name of profit.” www.nbcnews.com/business/rea...
Reposted by Private Equity Stakeholder Project
Since Aug the Tenant Union Federation has organized 9 unions in 6 states, repping 1500+ tenants Capital Realty Group properties. This is the most significant portfolio organizing ever. CRG has responded by ripping pages out of the labor union-busting playbook...
inthesetimes.com/article/tena...
inthesetimes.com/article/tena...
As Tenants Organize, Landlords Embrace Old-School Union-Busting
Tenant union members say they’ve faced threats, surveillance and retaliation from their private equity landlord, which has retained a notorious “union avoidance” firm.
inthesetimes.com
December 10, 2025 at 4:34 PM
Since Aug the Tenant Union Federation has organized 9 unions in 6 states, repping 1500+ tenants Capital Realty Group properties. This is the most significant portfolio organizing ever. CRG has responded by ripping pages out of the labor union-busting playbook...
inthesetimes.com/article/tena...
inthesetimes.com/article/tena...
Private equity-linked bankruptcies continued to pile up in 2025, from tween jewelry retailer Claire's to glucose monitor manufacturers and porta-potties. pestakeholder.org/news/from-he...
From healthcare to retail, private equity’s failures pile up in second half of 2025
A series of recent high profile bankruptcies highlights the devastating effects the private equity model can have on workers, suppliers, communities, and investors.
pestakeholder.org
December 9, 2025 at 10:49 PM
Private equity-linked bankruptcies continued to pile up in 2025, from tween jewelry retailer Claire's to glucose monitor manufacturers and porta-potties. pestakeholder.org/news/from-he...
State regulators found numerous violations, including inadequate resident care, unsanitary conditions, and administrative failures at one of the Blackstone properties in Aventura, Florida. The property sold for 75% less than the $48.8 million Blackstone paid for it. pestakeholder.org/news/blackst...
Blackstone real estate suffers $600 million in losses from sales of senior housing portfolio
Blackstone has already sold 70 of the approximately 90 senior housing properties and is in talks to sell the remaining facilities.
pestakeholder.org
December 4, 2025 at 10:10 PM
State regulators found numerous violations, including inadequate resident care, unsanitary conditions, and administrative failures at one of the Blackstone properties in Aventura, Florida. The property sold for 75% less than the $48.8 million Blackstone paid for it. pestakeholder.org/news/blackst...