Madison Dearborn Partners will not be part of the private equity industry’s newly formed trade association. The Chicago-based firm had been listed as a “founding member” when the Private Equity Council announced its formation in December, but Madison since has decided to pull out.
“We think it’s a good idea and a good organization,” says Mark Tresnowski, a managing partner and general counsel at the firm. “But in thinking about our own focus in terms of media relations and public policy issues we [decided] it would be better for us to manage those things on an individual basis.”
Other founding members include The Blackstone Group, The Carlyle Group, Kohlberg Kravis Roberts & Co., Texas Pacific Group, Apollo Management, Bain Capital, Hellman & Friedman, Providence Equity Partners, Silver Lake Partners and Thomas H. Lee Partners.
The Private Equity Council officially opened for business last month, with a small staff led by former video game industry lobbyist Douglas Lowenstein. —Erick Bergquist