Blackstone’s James Says Anti-Romney Ads Hurt Private Equity
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Tony James, president of Blackstone Group LP, said campaigns criticizing the private equity industry in the wake of Mitt Romney’s run for the Republican presidential nomination will hurt fundraising and buyouts.
Romney’s opponents have attacked Bain Capital LLC and other buyout managers as corporate looters who enrich themselves at the expense of ordinary workers. The debate over the value of the private equity business and its track record in creating jobs will affect negotiations about future investments, officials and trustees at public pensions, among the biggest investors in private equity, have said.