Children Before Profits State Playbook & Report

Children before profits state playbook

The Children Before Profits State Playbook is a joint project of the Open Markets Institute, Community Change, National Women’s Law Center, and Americans for Financial Reform Education Fund.

It equips state and local organizers, advocates, and policymakers with practical tools to address the risks posed by the growing role of private equity in U.S. child care markets.

Across the country, families, workers, and community leaders are fighting to build a child care system that treats care as a public good – one that is universal, affordable, and high-quality, and  supported by a well-paid, stable workforce. This vision of child care is within reach, but it is increasingly threatened by profit-first private equity acquisitions in the child care industry. 

Private equity has a long and unfortunate track record of acquiring essential community services – such as housing and health care – only to cut costs, degrade job and care quality, and weaken relationships with workers, families, and suppliers in pursuit of higher returns. Growing evidence shows the same pattern emerging in child care, particularly as states increase public investment. Eight of the ten largest child care companies in the U.S. are now owned by private equity, and in states like New Jersey, two-thirds of for-profit child care chains with three or more locations are private-equity-owned.


This report describes ways to strengthen guardrails that protect families and workers; maintain fair and competitive child care markets; equitably increase the supply of child care by supporting alternatives to private equity; and build public power for greater corporate accountability. 

Report contact: stienon@openmarketsinstitute.org


the power to curb private equity’s takeover of child care lies largely with state and local leaders, organizations, and communities.


Model State Legislation

Includes language for increasing transparency about PE involvement in child care programs; putting guardrails in public funding contracts with providers; ensuring compliance; and increasing public reporting on the make-up and performance of child care markets.

Contact: ndastur@communitychange.org

Campaign Resources


We are grateful to the Care for All with Respect and Equity (CARE) Fund for their support for this project.