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In recent decades corporate ownership in the UK and the US has undergone a dramatic transformation. Although private equity has been acquiring corporate assets since the 1980s, its dramatic growth since 2008 has changed the ownership of companies to an extraordinary extent. Currently more than 3,000 UK companies are owned by private equity; in the US private equity accounts for assets totalling more than $5 trillion.Why does this matter? The problem is that the private equity model of takeover and ownership is akin to inviting termites into your house. The basic model is as follows: private eq…
