Which of the following is not true about private equity (PE)? O Leverage is a key to large returns in a PE transaction. O PE firms charge a fee of 1% of assets like other money managers. O The largest PE firms are Blackstone.ne Carlyle Group, and KKR. o The general partner in a Pe transaction raises the funds and manages the investments. O Limited partners in PE transactions own 99% of the shares but have limited liability