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1mo ago wsj Views: 65

We have reached the moment every four years when, with a major election just around the corner, politics seems to swallow up all other issues in the news. This year, private equity has thrown itself into the political process like never before. The industry has spent a record-high amount on the 2020 races, as I report today for WSJ Pro PE. Most of the direct spending has gone to Democrats, a fact that may seem surprising in view of the hostility toward the industry from some well-known members of the party. But it’s not unusual for the industry to balance its spending on both parties. What is new this year is that, for the first time, private equity has spent most of its money on political action groups, which can take unlimited money and operate with very little regulation. -

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