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Apax Partners Says Warren, Ocasio-Cortez Shouldn’t Target Firm

Laura Davison
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Apax Partners Says Warren, Ocasio-Cortez Shouldn’t Target Firm

(Bloomberg) -- A spokesman for Apax Partners LLP says the private equity firm doesn’t have the kinds of investments in prison services that three progressive lawmakers are targeting in a letter they sent the company.

Senator Elizabeth Warren and Representatives Alexandria Ocasio-Cortez and Mark Pocan sent letters to five private equity firms -- including Apax Partners -- this week asking them to provide information about their stakes in correctional services, their revenue and if they’ve paid fees for violating federal or state laws.

“Apax Funds do not own companies that provide prison or correctional facility support services,” Todd Fogarty, a spokesman for Apax Partners, said in a statement.

“The Apax Funds do have an investment in Attenti, a company that provides state and local law enforcement agencies with electronic monitoring solutions which are an alternative to incarceration, helping to improve offender rehabilitation and chances of employment, while keeping communities safe,” the statement said.

An aide to Warren said that Apax Partners was properly identified with the letter and that saying an electronic monitoring service is not a prison support service is an excuse to avoid answering the lawmakers’ questions.

Aides to Ocasio-Cortez and Pocan didn’t immediately respond to a request for comment.

(Updates with comment from Warren aide in the fifth paragraph.)

To contact the reporter on this story: Laura Davison in Washington at ldavison4@bloomberg.net

To contact the editors responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net, Anna Edgerton, Laurie Asséo

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