Madison Dearborn Bails on PE Council

Madison Dearborn Partners will not be part of the private equity industry’s newly-formed trade association, according to Buyouts Magazine (sub required). The Chicago-based firm had been listed as a “founding member” when the Private Equity Council announced its formation last December, but since has decided to pull out.

“We think it’s a good idea and a good organization,” said 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 Blackstone Group, Carlyle Group, KKR, TPG, 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 yesterday, with a small staff led by former video game industry lobbyist Douglas Lowenstein.