Private-equity firms are facing a deal environment that, while challenging in their pursuit of returns, might just help stave off scrutiny of the industry. PE has been blasted with criticism from celebrities like Taylor Swift and Democratic presidential candidate Elizabeth Warren. 2019 marked the year private equity became a punching bag on late-night talk show shows and the Twitter feeds of some politicians who said the industry profits from US businesses at the expense of laid-off workers. Firms have said they can add value to companies.