Get rid of former private equity leaders initially (5)
I believe the answer is:
expel
'get rid' is the definition.
(I've seen this before)
'former private equity leaders initially' is the wordplay.
'former' becomes 'ex' (prefix meaning former or onetime).
'initially' suggests taking the first letters.
The initial letters of 'private equity leaders' is 'pel'.
'ex'+'pel'='EXPEL'
'of' acts as a link.
(Other definitions for expel that I've seen before include "Reject" , "Throw out" , "Banish (undesirable alien?)" , "Discharge in disgrace" , "Drive out, banish" .)