The United States antitrust agencies continue to increase the pressure on private equity firms. The Federal Trade Commission (“FTC”) has amplified its position that rollups will get much harder looks, even if they are below the threshold requiring advance reporting under the Hart-Scott-Rodino Act. Meanwhile, the Antitrust Division of the Department of Justice (“DOJ”) recently announced interlocking directorate investigations that resulted in the resignation of seven board members of various companies. These developments underscore the need for private equity companies to take particular care in observing U.S. competition laws.