After an investment is made, a private equity firm must confront how it will supervise its portfolio company’s compliance program to optimally protect its investment and itself. In this third installment in our article series examining corruption risk and liability related to portfolio companies, we discuss how a private equity firm can approach oversight, given that increasing control over portfolio companies may also increase liability. We also discuss strategies for handling an anti-corruption issue that arises after a deal has closed. The first article addressed the compliance and enforcement climate for the private equity industry and the risks a firm faces related to its portfolio companies. The second article examined key components of pre-deal assessment and diligence, when to walk away from the deal and when it may make sense to invest in companies that have had FCPA problems. See “Buyer Beware: Understanding and Mitigating Parent Company FCPA Liability in the Context of Private Equity Acquisitions” (Jul. 24, 2013).