Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Gingrich's private equity past (part 2)

January 18, 2012: 11:04 AM ET

More private equity hypocrisy from Newt Gingrich.

Newt Gingrich doubled down on his private equity attacks yesterday, characterizing Mitt Romney's Bain Capital deals as "exploitative."

It would seem that Gingrich -- who fancies himself one of the world's leading intellectuals -- has adopted Emerson's credo that a foolish consistency is the hobgoblin of little minds.

First, we reported that Gingrich had served as an adviser to private equity firm Forstmann Little & Co. upon leaving Congress. Then Paul Levy of JLL Partners told Bloomberg that his firm paid Gingrich $60,000 for a speech "praising" private equity at the firm's annual meeting two years ago.

Now Fortune has learned that Gingrich also made money in 2009 from giving a keynote address at ACG Intergrowth, a Las Vegas conference featuring more than 2,000 private equity deal-makers and service providers. Gingrich's contract precluded ACG from recording his speech, although one attendee tell me that he was "singing [private equity's] praises all the way."

ACG also is not allowed to disclose the amount it paid Gingrich. Below was the event brochure:

Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.