Public Money for Private Equity: Pandemic Relief Went to Companies Backed by Private Equity Titans

Hundreds of companies owned or backed by some of the most well-financed private equity firms in the US secured an estimated $5.3 billion in public funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

In partnership with: Americans for Financial Reform, Public Citizen


The Anti-Corruption Data Collective brings together leading journalists, data analysts, academics and policy advocates to expose and undermine corruption .

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A project of the Fund for Constitutional Government


Money laundering risks in private investment funds

Trillions of dollars are invested worldwide in private investment funds (PIFs), which include hedge funds, private equity, venture capital and other pooled vehicles. Yet in most countries, and in the US in particular, these funds are subject to even weaker anti-money laundering checks than other types of legal entities, including shell companies.

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Real estate markets open to criminals and the corrupt

Real estate offers kleptocrats and other criminals an easy, opaque asset class to launder their ill-gotten gains. Moreover, when real estate is used as a safe haven for the proceeds from criminal activity, access to housing is reduced and ordinary residents struggle to afford properties for their family or business.

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Misuse of federal COVID-19 relief funds

Insufficient guardrails on trillions of dollars in federal stimulus spending to support workers and small businesses during the COVID-19 pandemic have allowed long-term issues in American politics to precipitate a short-term crisis.

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Private Investment Funds Real Estate COVID-19 relief

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