Buyout firms Carlyle, Blackstone form lobby

The Private Equity Council was formed in Washington to lobby for firms such as Carlyle Group, Blackstone Group and others, some of which face legal inquiries in the U.S. after a record amount of takeovers.

Private equity firms have announced $718 billion of takeovers in 2006, Bloomberg data show. Carlyle, Kohlberg Kravis Roberts & Co. and other firms were sued in November by investors who claim that they conspired to hold down prices when buying companies.