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Private Equity Continues Push-Back Private Equity Continues Push-Back

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Private Equity Continues Push-Back

We told you last week how the private equity industry was pushing back after Democrats and Republicans both attacked GOP presidential candidate Mitt Romney for his tenure at Bain Capital. The latest step: Steve Judge, the interim president and CEO of the Private Equity Growth Capital Council, penning an op-ed in USA Today that calls private equity "the ultimate risk-reward model."

Judge writes:

We're troubled by recent political attacks that demonize the industry, but we're not surprised. The misleading attacks are based on a handful of unrepresentative investments, many of which occurred 20 or 30 years ago, that don't reflect the current economic reality of how private equity works.

Don't misunderstand us -- everyone has a right to scrutinize the record of a presidential candidate. Our intent is to ensure that an entire industry that provides real economic value isn't tarnished in the process.

Judge's piece serves as the opposing view to USA Today's editorial that, while highlighting the contributions of the private equity industry, says reforms should be made and that "it would be interesting to hear a plan from Romney for optimizing the benefits of private equity while limiting its predatory excesses."

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