Private Equity Buyouts: Anti- or Pro-Competitive?

By Pehr-Johan Norbäck, Lars Persson & Joacim Tåg

Private equity firms (“PE firms”) have become common as owners of established firms in concentrated markets. We discuss the antitrust implications of an active PE market and whether there are any special characteristics of PE ownership that are important for antitrust regulation and enforcement. The literature on the impact of private equity ownership on antitrust policy is still in its infancy, but existing studies support some initial