A who's who list of London's top private equity bosses has come together in a new committee aimed at developing a “common hymn sheet” for the controversial industry.

It is understood that the Global Buyout Committee will be chaired by Robert Easton, managing partner of Carlyle in Europe, and will include the heads of all the big buyout firms in London.

The committee includes David Blitzer, of Blackstone, Lord Hollick, of Kohlberg Kravis Roberts, Adrian Beecroft, from Apax, and Donald MacKenzie, of CVC.

The effort represents the first time that the heads of Europe's biggest private equity firms have come together since a volley of attacks by trade unions and politicians against the buyout chiefs last summer.

“The aim is to get a co-ordinated message out, to sing from a common hymn sheet,” Mr Easton said.

Buyout groups have been lambasted for operating behind a veil of secrecy and taking advantage of tax loopholes to cream off millions in profits.

The debate led to a high-profile investigation by the Treasury Select Committee and a shake up of the capital gains tax rules in last year's Pre-Budget Review.

Although the limelight has shifted away from private equity in the wake of the turmoil in the credit markets, Mr Easton says that the industry cannot afford to sit on its laurels.

He said: “The need is the same as it has always been. The climate has changed, but in my mind we should absolutely not stop the messages getting out there.”

The new committee will meet monthly under the auspices of the British Venture Capital Association (BVCA), the industry's main lobby group.

Mr Easton said one goal was to encourage the sovereign wealth funds that operate in London to get on board.

Middle Eastern and East Asian funds have come to the rescue of Wall Street banks, including Merrill Lynch and Citigroup, that were reeling in the aftermath of the sub-prime debt crisis in the United States. However, as their profile has risen, so, too, have the calls to regulate them.

“I think of them exactly like us. They put in equity and debt, so on that basis they should be treated in exactly the same way,” Mr Easton said.

Simon Walker, chief executive of the BVCA, said that he was holding talks with the sovereign fundss to try to persuade them to sign up.

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