Activists gathered outside the Wittenbergplatz subway station in Berlin to protest the SuperReturn private equity summit, accusing the industry of driving inequality, job cuts, and rising costs. The protest was organized by a group called NoSuperReturn.

Activist Hedda addressed the crowd, citing an analysis that only one in four billionaires in Germany is self-made. She called for higher inheritance taxes to redistribute excessive wealth. The protesters argue that private equity firms buy companies using debt, restructure them, cut jobs, and sell assets for profit.

Professor Rosemary Batt of Cornell University, who has studied private equity for over 15 years, said these practices increase bankruptcy rates by 20% and divert profits from productive enterprises to financial actors. She noted that the median private equity fund has not beaten the stock market since 2006.

The summit brings together participants representing over $50 trillion in assets under management. Panelists discussed challenges such as the exit backlog and expressed that volatility is beneficial for opportunities. The German defense industry was highlighted as a bright spot due to increased government spending.

On the third day, protesters declared the area in front of the conference hotel a toxic zone and attempted to block attendees. Police quickly intervened. The final protest saw around 200 people marching through the streets with banners reading "Tax The Rich" and making noise.

Source: www.dw.com