The Corner

Private-Equity Leader Slams Gingrich

Mitt Romney’s campaign sends video of Paul Levy, managing director of private-equity firm JLL Partners, criticizing Newt Gingrich for his attacks on Bain Capital. On Bloomberg TV this morning, Levy said that his firm paid Gingrich $40,000 to give a speech in which the ex-speaker praised private equity “fulsomely.” Here’s a partial transcript:

PAUL LEVY, MANAGING DIRECTOR, JLL PARTNERS: . . . Newt Gingrich spoke at my annual meeting two years ago. We paid him $40,000, and this gentleman praised private equity more fulsomely than I could ever do it. Ok, I can –”

BLOOMBERG’S STEPHANIE RUHLE: “Do you have that on video?”

PAUL LEVY: “I can give you the check. Ok? A copy of the check.”

BLOOMBERG’S ERIK SCHATZKER: “The canceled check?”

PAUL LEVY: “Yeah. We paid to the Washington Speakers Bureau for Newt Gingrich to come and speak. He was great, he gave a great evening, everybody had fun, he fielded a lot of questions, he gave us a lot of time. But nobody praised private equity, risk taking, –”


PAUL LEVY: “– capital, more fulsomely than Newt Gingrich.”

ERIK SCHATZKER: “I was going to thank you for coming here and standing up for the industry, because this is a debate that is not going away. People like you need to come and answer questions from people like me and Stephanie. But that was much better. Paying Newt Gingrich $40,000 in fact we would –“

PAUL LEVY: “We did, we were happy to do it, he was great.”

Watch the video below.


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