GOP candidate's private equity resume draws scrutiny in Va.

Glenn Youngkin amassed a personal fortune estimated at more than $300 million as a senior executive at the giant private equity firm known as the Carlyle Group

RICHMOND, Va. -- Newly retired, Judy Pavlick was among hundreds of seniors who enjoyed the low cost-of-living and friendly atmosphere at Plaza Del Rey, a sprawling mobile home park in Sunnyvale, California. Then the Carlyle Group acquired the property and things began to change. Pavlick's rent surged by more than 7%. Additional increases followed. She said the unexpected jump forced her and her neighbors, many on fixed incomes and unable to relocate, to sometimes choose between food and medicine. The 2015 acquisition and subsequent sale of Pavlick's mobile home park is a core business practice for private equity firms such as Carlyle, which buy and restructure private companies to build value for their investors, sometimes cutting jobs and services in the process. But the deal, one of hundreds Carlyle executed in recent years, could become a political liability for Carlyle's former co-CEO, Glenn Younkin, who is now running as the Republican candidate for governor in Virginia and highlighting his experience “building businesses and creating jobs.”