Private equity industry not understood by lawmakers

That’s according to a brief report in San Francisco Business Times: “The new Private Equity Council, created last year to foster support among policymakers, says the industry is misunderstood. The group’s formation reflects the industry’s rising profile on both Wall Street and Capitol Hill. The Bay Area has long been a global center for venture capital and private equity. The group established by 10 of the largest private equity firms including TPG, formerly Texas Pacific Group, which maintains an investment arm in San Francisco. Kohlberg Kravis Roberts and the Blackstone Group also are founding members. “