ブレンダン・バルー（Brendan Ballou）は、米国の弁護士、元連邦検察官。コロンビア大学とスタンフォード大学ロースクールを卒業し、司法省国家安全保障局で政策助言に携わった後、民間法律事務所を経て、司法省反トラスト局のプライベート・エクイティ担当特別顧問を務めた。企業の買収や競争政策、金融業界の法的責任を主な関心領域とする。代表作『プライベート・エクイティ資本主義が世界を食い尽くす』（原題 “Plunder: Private Equity’s Plan to Pillage America”）では、小売、住宅、医療、介護施設などの事例を通じて、投資会社が買収先企業に多額の債務や手数料を負担させ、利益を回収する仕組みを検証。トイザらスの経営破綻や介護施設の人員削減を取り上げ、短期的な利益の追求が雇用、サービスの質、地域社会に及ぼす影響を論じた。さらに、複雑な企業構造による責任回避、強制仲裁、ロビー活動などに注目し、法律や政府の政策がこうした事業慣行を支える問題と、その改革策を提示した。同書は『フィナンシャル・タイムズ』と『フォーチュン』の2023年の年間ベストブックに選出。法律実務の経験をもとに、企業が利益を得る仕組みと、損失や被害を負担する人々との関係を具体的に説明している。
Brendan Ballou is an American lawyer and former federal prosecutor who served as special counsel for private equity in the U.S. Department of Justice’s Antitrust Division. A graduate of Columbia University and Stanford Law School, he previously worked in the department’s National Security Division, advising on government policy, and in private legal practice. His work focuses on corporate acquisitions, competition policy, and the legal accountability of financial firms. In “Plunder: Private Equity’s Plan to Pillage America,” Ballou examines how private equity firms acquire businesses using substantial borrowed money and extract returns through fees and other financial arrangements. Drawing on examples from retail, housing, health care, and nursing homes, he explores how debts and costs imposed on acquired companies can contribute to bankruptcy, job losses, and declining service quality. Cases including Toys “R” Us illustrate the consequences for workers, customers, and communities. The book also investigates how corporate structures, forced arbitration, lobbying, and government policies can help investment firms avoid responsibility for the harms associated with their businesses. Alongside this critique, Ballou proposes reforms to constrain these practices and strengthen accountability. “Plunder” was named one of the best books of 2023 by both the Financial Times and Fortune. Drawing on his legal experience, he explains the mechanisms through which financial firms capture profits while transferring risks and costs to other businesses and the people who depend on them.
