Among the firms that were subpoenaed are Bain Capital, KKR, TPG Capital, Apollo Global and Silver Lake Partners, the source said.
The subpoenas, which were sent out in July, seek documents related to the conversion of fees firms charge for managing investors’ assets into fund investments. Other firms that received subpoenas include Sun Capital Partners; Clayton, Dubilier & Rice; Crestview Partners; HIG. Capital; Vestar Capital Partners; and Providence Equity Partners.
A spokeswoman for the New York attorney general office declined to comment. The firms were not immediately available for comment.