"The private equity industry has a compelling story to tell, " says Robert Stewart, vice president of the Private Equity Council.

FORBES: Magazine Article

The Private Equity Council, a lobbying outfit that represents ten of the biggest buyout shops, including Blackstone and Carlyle, got up and running in February.

FORBES: Hill To Hear Union Concerns

Doug Lowenstein, who runs the Private Equity Council, the industry's lobby group, says that the tax change could wreck buy-out shops by discouraging young talent from going into private equity and driving buy-out firms to relocate to countries that offer more favourable tax treatment.

ECONOMIST: Private-equity firms battle to keep their tax perks

In May 2012, the Private Equity Growth Capital Council released its own cartoon video on YouTube that walked viewers briskly through the inner workings of leveraged buyouts.

FORBES: Who's Afraid of Private Equity?

Developer Alberta Development Partners LLC and private-equity firm Walton Street Capital LLC were scheduled to go before the City Council of Fort Collins, Colo.

WSJ: Plots & Ploys: Small-Market Mall Makeover

But Glenn Hubbard, dean of Columbia Business School and a former chairman of George Bush's Council of Economic Advisers, notes that private-equity partners, given the sort of accountants that they can afford, would no doubt find a way to avoid the higher tax.

ECONOMIST: Tax reform

For one, it is bringing in new investors: New Jersey's State Investment Council recently decided to give private equity a go, earmarking 5% of its assets to the sector.

ECONOMIST: Buy-outs are booming. Why?