PE is notorious for buying firms with debt and then driving them into bankruptcy by loading them with that debt. It’s the only thing they’re notable for. They’ve essentially killed all traditional US brick and mortar retail — it wasn’t Amazon alone; it was crushing debt load and/or profits siphoned off to the PE firm instead of reinvesting in the business.

If you don’t want your stepdad associated with those monsters, find a different term to describe his work.