PR Week Echo Columns

Damon Buffini, the boss of leading private equity group Permira, spoke out in defence of both his organisation and the industry in general last week "in an effort to calm the growing political storm" over the role of this "burgeoning but secretive industry" (Guardian, 23/2). Under sustained pressure from the GMB union, unhappy at Permira's stewardship of businesses such as the AA, Mr Buffini gave rare interviews "to set the record straight" (Sunday Times, 25/2).

Mr Buffini faced allegations that private equity investment ammounted to little more than "blatant asset stripping" (Gwyn Prosser, Labour MP, Independent, 17/2) and "Casino capitalists … after a quick buck" (Brendan Barber, GMB, Guardian, 21/2). Undeterred, Mr Buffini asserted, "There is a positive story about productivity and job creation", though he admitted "those messages have not gotten through" (Guardian, 23/2).

More shocking than the vehement attack from the trade unions, which The Telegraph highlighted "are to wealth creation and prosperity what Aids is to free love" (24/2), was that Mr Buffini was left to run "a one-man crusade to defend his industry" (Sunday Times, 25/2). A factor also noted by the FT, "the response from other leaders of the PE industry has been almost non-existent. It looks like they're leaving Buffini hanging out there to dry" (23/2)