NEW YORK, Dec 26: Eleven major private equity firms on Tuesday said they have formed a trade group, the Private Equity Council, as the industry becomes a more powerful force in the nearly $4 trillion world of mergers and acquisitions.
The firms comprising the Washington, D.C.-based group are: Apollo Management, Bain Capital, the Blackstone Group, the Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co., Madison Dearborn Partners, Providence Equity Partners, Silver Lake Partners, Texas Pacific Group and Thomas H. Lee Partners.
In a joint statement, the firms said the Council will become an industry advocate and a resource for people seeking to understand private equity's role in the global economy.—Reuters
