Tuesday, January 10, 2012

With Romney Under Attack, Private Equity Fights Back


From the NY Times' Dealbook: It was a long-held fear of Wall Street’s private equity titans. If Mitt Romney won the Republican nomination in 2012, the industry would come under intense scrutiny and withering attacks from his opponents. As Mr. Romney has established himself as the front-runner in the large Republican field, those fears have come to fruition.

So the private equity titans are fighting back. The industry’s lobbying group has hatched plans to counter the intensifying criticism of private equity’s business practices. In the coming weeks, the group, the Private Equity Growth Capital Council, will roll out an image campaign, according to two people with direct knowledge of the plans who requested anonymity because they were unauthorized to discuss them publicly.

Initiatives include online advertising that will promote the industry as one that creates jobs and expands companies. The council plans to reach out to political reporters and columnists in an attempt to disabuse them of what it views as gross misconceptions about private equity. It will also hire more people in the coming months, adding to its lean 10-person operation….

Find out more at http://dealbook.nytimes.com/2012/01/10/with-romney-under-attack-private-equity-fights-back/?ref=business

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