A Bad Man’s Guide to Private Equity and Pensions

Critics of private equity often inveigh against the fact that the general partners (firms like KKR and Blackstone) have strong incentives to borrow heavily against the companies that they buy, since they collect so many fees that they profit whether or not the businesses they buy can survive with the debt load. It has reached […]

When Private Equity Firms Give Retirees the Short End

Who comes first, the investors or the person who manages their money? That question is crucial for any investor. But it poses a special challenge for retired firefighters, police officers, teachers and other employees who may not know that their retirement money is being held in private equity funds. These are opaque and costly investment […]

America’s Seniors Find Middle-Class ‘Sweet Spot’

Most Americans suffered serious losses during and after the recession, knocked off balance by layoffs, stagnant pay and the collapse of home values. But apart from the superrich, one group’s fortunes appear to have held remarkably steady: seniors. Supported by income from Social Security, pensions and investments, as well as an increasing number of paychecks […]

Seniors and Income Inequality: How Things Get Worse With Age

Income inequality has been rising on the political agenda, yet one group has been left out of the discussion: seniors. Older adults are somewhat less likely than working-age adults to be poor by the government’s traditional poverty measure, developed in the 1960s. But this official measure may understate the extent to which seniors live in poverty. […]