For President Barack Obama’s re-election team, it’s sort of like threading a needle.

While trying to define Republican Mitt Romney as an insensitive job-killer during his time as a private equity executive, the Obama campaign also is raising money from private equity executives on Wall Street – and hoping voters don’t see that as hypocritical.

The Obama campaign’s political dexterity was evident on Monday, as it released a blistering video ad recounting how Romney’s Bain Capital laid off 750 workers from a steel mill in Missouri. Hours later, the campaign raked in about $2 million at a Manhattan fundraiser held by Tony James, president of the Blackstone Group, a huge private equity firm.