LyrArc Article Gist
There is a clear warning in this WSJ report by Jonathan Weil of the opaque manner financial reports of some private equity are done, which take the lack of transparency in general of private equity funds to an astonishing level. One private equity fund gives information on some transactions in footnotes that run 3 pages- actually shown here. The report highlights the practice of private equity of buying funds on the secondary market at hugely discounted prices and marking them up immediately by upto 1000% to show large returns.

How on earth are private equity funds not going to damage their reputations if they take up the task of investing the retirement funds of American's 401 K's. Historically these funds have been kept away from private equity. As their returns dwindle private equity funds including Blackstone are trying to get the US president DJT to allow private equity to manage retirement assets of ordinary Americans who can ill afford such investments.