Private equity backers raise new conflict concerns over sweetheart deals

private equity firms are facing fresh questions from investors about conflicts of interest in so-called sweetheart deals. the concern is that some institutions may be rubber-stamping transactions that benefit other businesses tied to the same backers, rather than the fund's limited partners. the complaints center on deals where one portfolio company does business with another, both owned by the same private equity firm. investors say the oversight process can break down when the general partner sits on both sides of a transaction. they're asking for more transparency around how these deals are approved and valued.