Private equity representatives meet TUC chiefs in first of several planned meetings

Representatives of trade unions and the private equity industry came face-to-face yesterday (Tuesday) in the first of a series of planned meetings.

At the invitation of TUC general secretary Brendan Barber, union reps and the British Private Equity and Venture Capital Association met for a roundtable discussion in London.

A further meeting is planned for the autumn.

Barber said: “Our concerns about the growth of private equity are well known, but with private equity now employing one in 12 of the private sector workforce, it makes sense for trade unions to engage with an increasingly important group of employers.”

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British Private Equity and Venture Capital Association chairman Wol Kolade said: “We look forward to these meetings and to an open exchange of views. We hope they set a pattern of regular dialogue between the British Private Equity and Venture Capital Association and the TUC.”

The union movement has been a ferocious critic of private equity, claiming its deals lead to mass job losses and are clouded in secrecy.