Private equity firms pay for Covid-19 tests and taxis to bring staff back to work (FT)

The world's largest private equity firms have introduced coronavirus testing for staff and are paying for taxis to the office.

Blackstone and Advent International, two prominent private equity firms with offices in NYC, will pay for their employees testing and taxis (read: Uber, Lyft and private car service). In fact, Blackstone, which currently manages $564 billion, said it will pay for employees worldwide to commute by taxi. The company will also require staff to test negative for COVID-19 before they are allowed to return to its Park Avenue headquarters. Advent, which just raised a $17.5 billion fund, has told staff to avoid public transport and would pay for taxis to team meetings, but not everyday commuting. Returning to the office is optional at both firms currently.

“You forget how much value there is in seeing people face to face and the small interactions that take place,…By having people tested and being strict about public transport, we’re trying to create a safe environment.” - James Brocklebank, co-chair of Advent’s executive committee.

Link to full article (Financial Times)

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