The Public Regulation Commission hosted a public hearing on the pending sale of Public Service Company of New Mexico (PNM) to Blackstone Infrastructure Partners, citing several reasons such as the world's largest private equity firm's desire to provide high-quality public service at a reasonable cost and increase profits. Blackstone has limited experience in operating electric utilities and has not been transparent about its decision to buy PNM. The downsides of private equity firms owning public utilities include a focus on short-term profit, which conflicts with long-term infrastructure planning. Additionally, private equity-owned hospitals in New Mexico have no business being in the business of caring for sick people.