Private Equity Council issues statement on new GAO report on private equity investment

WASHINGTON,DC, October 8, 2008 — The Private Equity Council issued the following statement on the report released yesterday by the Government Accountability Office on certain aspects of private equity investment. The statement should be attributed to Douglas Lowenstein, president of the Private Equity Council.

“The Government Accountability Office report on private equity investment released yesterday represents an objective and measured analysis that affirms the important role that private equity plays in the national economy.

“The report concludes that private equity funds often strengthen the financial performance of the companies in which they invest; can play an important role in saving and creating jobs; have not raised significant concerns for regulators and have met the expectations of investors, including public pension funds that secure the retirement income of millions of average Americans.

“The GAO’s report represents a thoughtful and important contribution to an informed debate on private equity investment.”

About The Private Equity Council

The Private Equity Council, based in Washington DC, is an advocacy, communications and research organization that develops, analyzes and distributes information about the domestic and international private equity industry. Its members are: Apax Partners; Apollo Global Management LLC; Bain Capital; The Blackstone Group; The Carlyle Group; Hellman & Friedman LLC; Kohlberg Kravis Roberts & Co.; Madison Dearborn Partners; Permira; Providence Equity Partners; Silver Lake; THL Partners and TPG Capital (formerly Texas Pacific Group).