Private equity code fails to mollify critics

Author: Nicholas Pettifer | Published: 20 Nov 2007

The announcement of a voluntary code of conduct for UK private equity has unexpectedly increased political pressure.

Initial reaction from politicians and unions is that the code does not go far enough.

This surprised some. Speaking on the eve of the announcement, one partner at a US firm predicted that the code would mollify critics: "The code will have some run-of-the-mill concessions, but it won't have a great affect on the market," she said. "It will do...