In the last 18 months, at least eight US hospitals have closed their doors after being bought and sold by private equity firms. For years, the private equity industry has stirred controversy when its investments in healthcare, retail, and restaurants have gone south. Whenever things go wrong with private equity, people in the industry point to its economic benefits. These investments don't just benefit ultra-wealthy people, they say.
The aftermath of the 2008 banking crisis led to large corporations benefiting from bank consolidations while smaller businesses faced significant losses, highlighting a major shift in the lending landscape.