By James Fontanella-Khan, Financial Times
For the private equity groups that now control so much of the US economy, America’s top antitrust enforcer has a clear message: expect more scrutiny.
Over the past decade or so, the likes of Blackstone, KKR and Apollo have expanded into even bigger corporate and industrial juggernauts, owning companies seemingly across every sector of the economy from retail stores to dating apps. At the same time, they have created a financial ecosystem as key lenders to each other.
