In the week when Gordon Brown conceded ground to the fuel protesters, it is interesting to hear stalwarts of the private equity industry paying more than lip-service to the green agenda.

Nonetheless, the resoundingly successful merger negotiations between Dresdner Kleinwort Benson private equity and Elderstreet Investments nearly derailed on a green issue. But the sticking point was not an ethically responsible investment strategy. Rather, it was the Deutsche Bank-like blue colour of Elderstreet's logo.