Private Equity Council Strikes Back at Kosman Book

The Private Equity Council, a trade group representing a dozen of the world’s largest buyout firms, has issued a formal rebuttal to Josh Kosman’s The Buyout of America — a new book arguing that “private equity will cause the next great credit crisis.” To say the PEC disagrees would be an understatement.

You can read the rebuttal below, including some quotes from my early review of the book. Worth noting that I did agree with many of Josh’s complaints about private equity — particularly excessive fee-taking — but I also stand by the criticisms cited by PEC (primarily, a lack of balance or opposing viewpoints).

What’s Wrong With Kosman’s Book – 11-25-03