On the heels of Monday's announcement that Steve Judge is the new president of the Private Equity Growth Capital Council, there is K Street buzz that the trade association is in talks with The Glover Park Group to launch a multi-million dollar, integrated public affairs campaign defining and defending the private equity industry.
Both Glover Park and the private equity council declined to comment, but the informed speculation makes sense. The PEGCC has amped up its defense of the industry in the wake of Republican and Democratic attacks on Mitt Romney's time as the head of the private equity firm Bain Capital.
PGCC spokesman Ken Spain told the Alley earlier this month that the organization will "aggressively defend the industry against any mischaracterizations regardless of the political affiliation," but he wouldn't discuss the organization's plans.
GPG already counts PEGCC as a client, so a more robust campaign would only expand the firm's role. But it could also put GPG, a firm with longstanding Democratic ties, in the position of defending an industry that President Obama and his supporters will almost surely use to bludgeon Romney, should he be the nominee.
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