Wednesday, 24 August 2016
Last updated 16 hours ago
Jul 14 2014 | 5:11am ET
Another major private-equity firm has settled collusion allegations.
Silver Lake Partners will pay $29.5 million to end a lawsuit accusing it and other p.e. powerhouses of agreeing not to bid on companies pursued by competitors in an effort to keep buyout prices down. The deal follows settlements by Bain Capital Partners and Goldman Sachs last month.
Four firms—Blackstone Group, Carlyle Group, Kohlberg Kravis Roberts and TPG Capital—remain defendants in the class-action lawsuit brought on behalf of the shareholders of eight companies bought by the firms. The trial is set to begin on Nov. 3, unless the other firms also reach settlements.