Johan Yseswyn, Head of EU competition practice at Covington, says last year’s European Commission fine against Goldman Sachs Capital Partners for the cartel behavior of a former portfolio company ‘pushes the boundaries’ on financial investor responsibility and looks at the issues the General Court in Luxembourg will have to tackle in Goldman’s pending appeal. Given Europe’s increasingly tough pursuit of cartels, he predicts similar cases to follow in Brussels and in EU countries, and offers private equity several practical tips on how to minimize risk, from antitrust due diligence and putting contractual arrangements in arrangements in place to ensure the risk stays with the portfolio company rather than the investor.
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