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US buyout firms' fees come under review

SEC is looking into commissions from group purchasing programmes

Federal regulators are looking at commissions that buyout firms receive for helping companies they control get goods and services at discount prices, as part of a stepped-up probe of private equity fees.

At issue are millions of dollars received by private equity firms in exchange for steering their portfolio companies into so-called group purchasing programmes, which use the portfolio's buying clout to secure cut-rate prices on items as varied as coffee and personal computers.

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