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American Investment Council

The American Investment Council (AIC), formerly the Private Equity Growth Capital Council (PEGCC), is a lobbying, advocacy, and research organization based in Washington, D.C., that was launched by a consortium of private equity firms in February 2007. It focuses on defending and promoting the private equity and growth capital investment industry to lawmakers and the public at large. Its members include some of the world's largest private equity firms.

American Investment Council
FormationFebruary 2007; 16 years ago (2007-02)
PurposeAdvocacy, research and lobbying for the private equity industry
HeadquartersWashington, D.C., U.S.
President, CEO
Mike Sommers[1]
Websitehttp://www.investmentcouncil.org/

History Edit

Founding and early history Edit

The concept for a trade association for the private equity industry originated in 2006, as the private equity market reached the peak of its mid-2000s buyout boom and it became the subject of increased criticism and government scrutiny.[2][3][4] That year, private equity firms were involved in around 28% of acquisitions by dollar value, compared to 3% in 2001.[3] In late 2006, the Private Equity Council (PEC) was formed as the industry's principal lobbying organization.[5][6][7] The trade association was officially launched in Washington, D.C., in February 2007.[8]

 
The original Private Equity Council logo in use from the formation of the organization through September 2010

The AIC provides research on issues including the impact of private equity on job creation and pension funds' returns[9][6] in order to educate business leaders, policymakers, the media, and labor organizations about the private equity industry.[10] In addition to its research and communications endeavors, the Council's mission also includes advocacy on behalf of private equity firms and the growth capital investment industry.[11][12]

Expansion and renaming Edit

In 2010, the PEC expanded its membership to include a broader selection of private equity industry stakeholders.[13][14] In September 2010, eighteen new members were added, including middle-market private equity firms and growth capital investment firms.[14] Following this expansion, the PEC changed its name to the Private Equity Growth Capital Council (PEGCC) to reflect a broader membership.[15] According to the Council, in addition to the name change it created a committee called the "Growth Capital Committee" to focus specifically on issues related to middle and small market firms.[16] In 2016, the PEGCC changed its name to the American Investment Council to "reflect the increased diversity of PE firms and growing focus of the industry."[17]

Member firms Edit

The AIC's members include some of the largest private equity firms globally, along with an Associate Member class of advisory and law firms that have a private equity practice.[13] A full list of members can be found on the AIC's website.[18]

Activities Edit

Since its launch in 2007, the AIC has spent over $11 million on lobbying.[19] It also commissions and publicizes research favorable to the private equity industry.

In addition to its research and lobbying activities, the trade association has developed best practice guidelines. In 2009, it developed a set of "guidelines for responsible investment", which were adopted by its members, covering such issues as health, safety, labor, governance,[20] transparency for stakeholders and respect for human rights.[21] The guidelines were produced in accordance with the United Nations' Principles for Responsible Investment (PRI), from discussions between AIC members and a group of institutional investors.[21] The guidelines focus on transparency of private equity transactions and ensuring compliance with all applicable laws, both in the United States and overseas, and encourage adding value to members' portfolio companies.[21][20] The AIC received positive feedback on its guidelines from PRI executive director James Gifford, and the chief investment officers of California Public Employees Retirement Systems (CalPERS)[21] and California State Teachers' Retirement System (CalSTRS), but the Service Employees International Union (SEIU) remained critical of the industry, arguing that outside regulation was needed rather than internal guidelines.[20]

In 2016, the AIC, in partnership with the National Association of Investment Companies, launched The Private Equity Women’s Initiative. The initiative promotes the recruitment and retention of women in private equity industry. Through this initiative, AIC membership promotes Guidelines 16 August 2017 at the Wayback Machine and Best Practices 16 August 2017 at the Wayback Machine for better gender parity in private equity.[22]

Studies and reports Edit

The AIC releases quarterly and annual reports that highlight fundraising and investment trends, measure PE performance, and analyze top states and districts for investments. These reports share the impact that private equity has across the country.

Top States and Districts Report Edit

In 2011, the AIC released its first Top States and Districts report, a ranking of the top 20 states and Congressional districts receiving the most private equity investment and that have the most private equity-backed companies. The report features an interactive map on the AIC's website that allows visitors to find out information about private equity investment in every state, including data about pension funds.[23] Thomson Reuters and propriety data collected by the AIC provide data for the report.[24]

Other reports Edit

In early 2007 the private equity industry was criticized by the Service Employees International Union (SEIU), which argued that the industry put employees at risk of job loss and had a negative impact on job creation.[25][26] In response to this criticism, the AIC commissioned a number of studies and reports. In September 2007, an AIC report detailed three case studies of private equity owned companies that became more competitive and increased employment following their buyout.[27] The following January, a study for the Council by Robert J. Shapiro and economist Nam Pham found that 76% of companies owned by eight private equity firms reported an increase in jobs.[28] The study observed "significantly greater job gains" in private equity transactions compared with the overall market.[29] In 2010 an AIC report found that portfolio companies outperform publicly owned companies by 7% over three years and 11% over five years, countering claims that private equity has a negative impact operational improvement.[30]

Other reports commissioned by the Council include a plan to improve the U.S. economy, produced by economists Martin Neil Baily and Matthew Slaughter,[31] and a report estimating the total employment by private equity owned companies to be 11 million people. Pensions & Investments magazine stated that this was the first time that employment by the industry had been quantified.[32]

Legislation and regulation Edit

The AIC has advocated before Congress in support of the private equity industry on numerous occasions. In 2009, the then-president of the PEC, Douglas Lowenstein, testified before the House Financial Services Committee (HFSC) in support of legislation requiring private equity and hedge funds to register with the Securities and Exchange Commission (SEC).[33] He stated that the PEC supported registration under the proposed Private Fund Investment Advisers Registration Act because its members perceived the law as an important component of protection for investors against systemic risk.[34] While supporting registration, Lowenstein raised concerns regarding cost for smaller firms.[35]

The AIC has testified before Congress on the industry's role in the economy. In 2007, Lowenstein testified before the HFSC on the impact of private equity on employment and companies.[36] In 2009, its chairman Mark Tresnowski testified before the Senate Banking Subcommittee on the potential role of private equity in the recovery of the U.S. economy.[35]

The AIC's initial lobbying efforts were focused on opposing proposed legislation to increase taxation of private equity managers' fees.[37][38][39] The AIC supported keeping the carried interest tax on managers' fees at the 15 percent capital gains rate,[40] rather than increasing it to the earned income rate.[39] The proposed legislation was rejected but similar proposals were raised in 2009 and 2011, and the AIC continued to oppose them.[41]

Lobbying disclosures Edit

As required by the Lobbying Disclosure Act of 1995 and Honest Leadership and Open Government Act of 2007, the Council is a registered lobbying organization and files quarterly reports concerning these activities, including the amount of money spent specifically on lobbying.[19]

Annual reported lobbying expenditures Edit

  • 2007: $1,720,000
  • 2008: $3,360,000
  • 2009: $3,590,000
  • 2010: $2,430,000
  • 2011: $2,220,000

References Edit

  1. ^ Andrew Joseph (30 January 2012). "Judge Named President and CEO of PEGCC". Influence Alley. National Journal. Retrieved 31 January 2012.[permanent dead link]
  2. ^ Yerak, Becky (27 December 2006). "Takeover firms form trade group: Private-equity council plans education push". Chicago Tribune. Retrieved 13 December 2011.
  3. ^ a b Birnbaum, Jeffrey (27 December 2006). "Private Funds Prepare To Lobby: Equity Firms Merge To Fight Regulation". The Washington Post. Retrieved 13 December 2011.
  4. ^ Duhigg, Charles (24 December 2006). "Can Private Equity Build a Public Face?". The New York Times. Retrieved 30 January 2012.
  5. ^ Nolan, Hamilton (1 December 2006). "US PE firms ready first trade assoc". PR Week. Retrieved 13 December 2011.
  6. ^ a b MacFadyen, Ken (30 October 2006). "PE Trade Group Nearing Launch Amid Intensifying Scrutiny: The need for a private equity trade group was magnified when the Justice Department launched an informal probe into the industry". Investment Dealers Digest. SourceMedia, Inc. Retrieved 13 December 2011.
  7. ^ "Private equity group says lawmakers misunderstand industry". Silicon Valley/ San Jose Business Journal. American City Business Journals, Inc. 12 March 2007. Retrieved 13 December 2011.
  8. ^ "Big Equity Funds Make Their Move". Intelligence Online. Indigo Publications. 12 January 2007. Retrieved 13 December 2011.
  9. ^ Fugazy, Danielle (March 2007). "Private Equity Lobbying Group Gives the Market a Voice". Mergers & Acquisitions. SourceMedia, Inc. Retrieved 13 December 2011.
  10. ^ "Your mission, should you decide to accept it". Private Equity International. February 2007.
  11. ^ Alder, Neil (27 December 2006). "Texas Pacific, others form private equity trade association". Dallas Business Journal. American City Business Journals, Inc. Retrieved 13 December 2011.
  12. ^ "About". PEGCC.org. Private Equity Growth Capital Council. Retrieved 21 December 2011.
  13. ^ a b . Private Equity Manager. Private Equity International. 22 April 2010. Archived from the original on 16 August 2017. Retrieved 15 August 2017.
  14. ^ a b "PEC adds 18 members, changes name". Private Equity International. 14 September 2010.
  15. ^ Lattman, Peter (14 September 2010). "Private Equity's Makeover Effort Starts With Trade Group". Dealbook. The New York Times. Retrieved 13 December 2011.
  16. ^ "Private Equity Council adds 18 new members, changes name to Private Equity Growth Capital Council". PEGCC.org. Private Equity Growth Capital Council. 14 September 2010. Retrieved 21 December 2011.
  17. ^ "Private Equity Growth Capital Council Updates Mission; Changes Name to American Investment Council". investmentcouncil.org. 10 May 2016.
  18. ^ "Members - AIC". AIC. Retrieved 15 August 2017.
  19. ^ a b "LDA Reports". The United States Senate Official Website. United States Senate. Retrieved 5 February 2012.
  20. ^ a b c MacFadyen, Ken (16 February 2009). "PE Adopts Responsible Investment Guidelines". Mergers & Acquisitions Report. SourceMedia, Inc. Retrieved 13 December 2011.
  21. ^ a b c d (PDF). Principles for Responsible Investment. Private Equity Council. 10 February 2009. Archived from the original (PDF) on 12 November 2012. Retrieved 13 December 2011.
  22. ^ (PDF). AIC. Archived from the original (PDF) on 16 August 2017. Retrieved 15 August 2017.
  23. ^ "Private Equity at Work in Your State". Interractive Map. Private Equity Growth Capital Council. Retrieved 12 May 2014.[permanent dead link]
  24. ^ "The $214 Billion Map: PEGCC Report Breaks Down Pension Fund Investment by State, Ranks Top Funds by Returns and Allocation". In the News. Private Equity Growth Capital Council. 17 September 2012. Retrieved 12 May 2014. Today, the Private Equity Growth Capital Council (PEGCC) unveiled Private Equity at Work in Your State, an interactive map that, for the first time, aggregates state-by-state information about large public pension plans and their investments in private equity.[permanent dead link]
  25. ^ Foley, Stephen (17 May 2007). "Congress warns private equity over excess profits". The Independent (London).
  26. ^ Michael J. de la Merced (4 June 2008). "Union Takes Anti-Buyout Campaign Worldwide". The New York Times. Retrieved 13 December 2011.
  27. ^ "PEC: buyouts better businesses". Private Equity International. Private Equity International. 6 September 2007.
  28. ^ Adler, Neil (18 January 2008). "Private equity transactions led to more jobs". Silicon Valley / San Jose Business Journal. Retrieved 22 December 2011.
  29. ^ "Study finds buyouts boost jobs". Private Equity International. 17 January 2008.
  30. ^ "Private equity industry rejects criticism". Hedgeweek. GFM Ltd. 29 July 2010.
  31. ^ Sanati, Cyrus (17 December 2008). "Private Equity Council's View of Obama's Priorities". Dealbook. The New York Times Company. Retrieved 3 December 2011.
  32. ^ Jacobius, Arleen (17 May 2010). "Council measures private equity's impact". Pensions & Investments. Crain Communications Inc. Retrieved 13 December 2011.
  33. ^ Phillips, Frank (16 November 2009). "Pagliuca sees a role for lobbyists; Firm's record at odds with campaign stance". The Boston Globe. Retrieved 13 December 2011.
  34. ^ "Testimony by Douglas Lowenstein, President, Private Equity Council" (PDF). House Financial Services Committee Hearing. U.S. House of Representatives. 6 October 2009. Retrieved 23 June 2011.
  35. ^ a b Schor, Elena (15 July 2009). "Private Equity Council supports SEC registration rules". Infrastructure Investor. PEI Media Group Limited. Retrieved 13 December 2011.[permanent dead link]
  36. ^ "House names witnesses for PE hearing". Private Equity Asia. PEI Media Group Limited. 8 June 2007.[permanent dead link]
  37. ^ Sorkin, Andrew Ross (11 March 2007). "Of Private Equity, Politics and Income Taxes". The New York Times. Retrieved 30 January 2012.
  38. ^ Labaton, Stephen; Anderson, Jenny (11 July 2007). "Mr. Kravis Goes to Washington (Capra Rolls Over)". The New York Times. Retrieved 30 January 2012.
  39. ^ a b Schor, Elena (27 April 2009). "Private Equity Firms Lobby Less, As Industry Trade Group Takes More Cash". Washington Independent. Retrieved 13 December 2011.
  40. ^ Lattman, Peter (23 August 2011). "Private Equity's Top Lobbyist Steps Down". Dealbook. The New York Times. Retrieved 13 December 2011.
  41. ^ Rubin, Richard; Sloan, Steven; Talev, Margaret (13 September 2011). . Bloomberg Businessweek. Archived from the original on 27 January 2012. Retrieved 23 December 2011.

External links Edit

  • Private Equity Growth Capital Council website
  • PEGCC membership

american, investment, council, formerly, private, equity, growth, capital, council, pegcc, lobbying, advocacy, research, organization, based, washington, that, launched, consortium, private, equity, firms, february, 2007, focuses, defending, promoting, private. The American Investment Council AIC formerly the Private Equity Growth Capital Council PEGCC is a lobbying advocacy and research organization based in Washington D C that was launched by a consortium of private equity firms in February 2007 It focuses on defending and promoting the private equity and growth capital investment industry to lawmakers and the public at large Its members include some of the world s largest private equity firms American Investment CouncilFormationFebruary 2007 16 years ago 2007 02 PurposeAdvocacy research and lobbying for the private equity industryHeadquartersWashington D C U S President CEOMike Sommers 1 Websitehttp www investmentcouncil org Contents 1 History 1 1 Founding and early history 1 2 Expansion and renaming 1 3 Member firms 2 Activities 3 Studies and reports 3 1 Top States and Districts Report 3 2 Other reports 4 Legislation and regulation 4 1 Lobbying disclosures 4 1 1 Annual reported lobbying expenditures 5 References 6 External linksHistory EditFounding and early history Edit The concept for a trade association for the private equity industry originated in 2006 as the private equity market reached the peak of its mid 2000s buyout boom and it became the subject of increased criticism and government scrutiny 2 3 4 That year private equity firms were involved in around 28 of acquisitions by dollar value compared to 3 in 2001 3 In late 2006 the Private Equity Council PEC was formed as the industry s principal lobbying organization 5 6 7 The trade association was officially launched in Washington D C in February 2007 8 nbsp The original Private Equity Council logo in use from the formation of the organization through September 2010The AIC provides research on issues including the impact of private equity on job creation and pension funds returns 9 6 in order to educate business leaders policymakers the media and labor organizations about the private equity industry 10 In addition to its research and communications endeavors the Council s mission also includes advocacy on behalf of private equity firms and the growth capital investment industry 11 12 Expansion and renaming Edit In 2010 the PEC expanded its membership to include a broader selection of private equity industry stakeholders 13 14 In September 2010 eighteen new members were added including middle market private equity firms and growth capital investment firms 14 Following this expansion the PEC changed its name to the Private Equity Growth Capital Council PEGCC to reflect a broader membership 15 According to the Council in addition to the name change it created a committee called the Growth Capital Committee to focus specifically on issues related to middle and small market firms 16 In 2016 the PEGCC changed its name to the American Investment Council to reflect the increased diversity of PE firms and growing focus of the industry 17 Member firms Edit The AIC s members include some of the largest private equity firms globally along with an Associate Member class of advisory and law firms that have a private equity practice 13 A full list of members can be found on the AIC s website 18 Activities EditSince its launch in 2007 the AIC has spent over 11 million on lobbying 19 It also commissions and publicizes research favorable to the private equity industry In addition to its research and lobbying activities the trade association has developed best practice guidelines In 2009 it developed a set of guidelines for responsible investment which were adopted by its members covering such issues as health safety labor governance 20 transparency for stakeholders and respect for human rights 21 The guidelines were produced in accordance with the United Nations Principles for Responsible Investment PRI from discussions between AIC members and a group of institutional investors 21 The guidelines focus on transparency of private equity transactions and ensuring compliance with all applicable laws both in the United States and overseas and encourage adding value to members portfolio companies 21 20 The AIC received positive feedback on its guidelines from PRI executive director James Gifford and the chief investment officers of California Public Employees Retirement Systems CalPERS 21 and California State Teachers Retirement System CalSTRS but the Service Employees International Union SEIU remained critical of the industry arguing that outside regulation was needed rather than internal guidelines 20 In 2016 the AIC in partnership with the National Association of Investment Companies launched The Private Equity Women s Initiative The initiative promotes the recruitment and retention of women in private equity industry Through this initiative AIC membership promotes Guidelines Archived 16 August 2017 at the Wayback Machine and Best Practices Archived 16 August 2017 at the Wayback Machine for better gender parity in private equity 22 Studies and reports EditThe AIC releases quarterly and annual reports that highlight fundraising and investment trends measure PE performance and analyze top states and districts for investments These reports share the impact that private equity has across the country Top States and Districts Report Edit In 2011 the AIC released its first Top States and Districts report a ranking of the top 20 states and Congressional districts receiving the most private equity investment and that have the most private equity backed companies The report features an interactive map on the AIC s website that allows visitors to find out information about private equity investment in every state including data about pension funds 23 Thomson Reuters and propriety data collected by the AIC provide data for the report 24 Other reports Edit In early 2007 the private equity industry was criticized by the Service Employees International Union SEIU which argued that the industry put employees at risk of job loss and had a negative impact on job creation 25 26 In response to this criticism the AIC commissioned a number of studies and reports In September 2007 an AIC report detailed three case studies of private equity owned companies that became more competitive and increased employment following their buyout 27 The following January a study for the Council by Robert J Shapiro and economist Nam Pham found that 76 of companies owned by eight private equity firms reported an increase in jobs 28 The study observed significantly greater job gains in private equity transactions compared with the overall market 29 In 2010 an AIC report found that portfolio companies outperform publicly owned companies by 7 over three years and 11 over five years countering claims that private equity has a negative impact operational improvement 30 Other reports commissioned by the Council include a plan to improve the U S economy produced by economists Martin Neil Baily and Matthew Slaughter 31 and a report estimating the total employment by private equity owned companies to be 11 million people Pensions amp Investments magazine stated that this was the first time that employment by the industry had been quantified 32 Legislation and regulation EditThe AIC has advocated before Congress in support of the private equity industry on numerous occasions In 2009 the then president of the PEC Douglas Lowenstein testified before the House Financial Services Committee HFSC in support of legislation requiring private equity and hedge funds to register with the Securities and Exchange Commission SEC 33 He stated that the PEC supported registration under the proposed Private Fund Investment Advisers Registration Act because its members perceived the law as an important component of protection for investors against systemic risk 34 While supporting registration Lowenstein raised concerns regarding cost for smaller firms 35 The AIC has testified before Congress on the industry s role in the economy In 2007 Lowenstein testified before the HFSC on the impact of private equity on employment and companies 36 In 2009 its chairman Mark Tresnowski testified before the Senate Banking Subcommittee on the potential role of private equity in the recovery of the U S economy 35 The AIC s initial lobbying efforts were focused on opposing proposed legislation to increase taxation of private equity managers fees 37 38 39 The AIC supported keeping the carried interest tax on managers fees at the 15 percent capital gains rate 40 rather than increasing it to the earned income rate 39 The proposed legislation was rejected but similar proposals were raised in 2009 and 2011 and the AIC continued to oppose them 41 Lobbying disclosures Edit As required by the Lobbying Disclosure Act of 1995 and Honest Leadership and Open Government Act of 2007 the Council is a registered lobbying organization and files quarterly reports concerning these activities including the amount of money spent specifically on lobbying 19 Annual reported lobbying expenditures Edit 2007 1 720 000 2008 3 360 000 2009 3 590 000 2010 2 430 000 2011 2 220 000References Edit Andrew Joseph 30 January 2012 Judge Named President and CEO of PEGCC Influence Alley National Journal Retrieved 31 January 2012 permanent dead link Yerak Becky 27 December 2006 Takeover firms form trade group Private equity council plans education push Chicago Tribune Retrieved 13 December 2011 a b Birnbaum Jeffrey 27 December 2006 Private Funds Prepare To Lobby Equity Firms Merge To Fight Regulation The Washington Post Retrieved 13 December 2011 Duhigg Charles 24 December 2006 Can Private Equity Build a Public Face The New York Times Retrieved 30 January 2012 Nolan Hamilton 1 December 2006 US PE firms ready first trade assoc PR Week Retrieved 13 December 2011 a b MacFadyen Ken 30 October 2006 PE Trade Group Nearing Launch Amid Intensifying Scrutiny The need for a private equity trade group was magnified when the Justice Department launched an informal probe into the industry Investment Dealers Digest SourceMedia Inc Retrieved 13 December 2011 Private equity group says lawmakers misunderstand industry Silicon Valley San Jose Business Journal American City Business Journals Inc 12 March 2007 Retrieved 13 December 2011 Big Equity Funds Make Their Move Intelligence Online Indigo Publications 12 January 2007 Retrieved 13 December 2011 Fugazy Danielle March 2007 Private Equity Lobbying Group Gives the Market a Voice Mergers amp Acquisitions SourceMedia Inc Retrieved 13 December 2011 Your mission should you decide to accept it Private Equity International February 2007 Alder Neil 27 December 2006 Texas Pacific others form private equity trade association Dallas Business Journal American City Business Journals Inc Retrieved 13 December 2011 About PEGCC org Private Equity Growth Capital Council Retrieved 21 December 2011 a b AIC Membership Private Equity Manager Private Equity International 22 April 2010 Archived from the original on 16 August 2017 Retrieved 15 August 2017 a b PEC adds 18 members changes name Private Equity International 14 September 2010 Lattman Peter 14 September 2010 Private Equity s Makeover Effort Starts With Trade Group Dealbook The New York Times Retrieved 13 December 2011 Private Equity Council adds 18 new members changes name to Private Equity Growth Capital Council PEGCC org Private Equity Growth Capital Council 14 September 2010 Retrieved 21 December 2011 Private Equity Growth Capital Council Updates Mission Changes Name to American Investment Council investmentcouncil org 10 May 2016 Members AIC AIC Retrieved 15 August 2017 a b LDA Reports The United States Senate Official Website United States Senate Retrieved 5 February 2012 a b c MacFadyen Ken 16 February 2009 PE Adopts Responsible Investment Guidelines Mergers amp Acquisitions Report SourceMedia Inc Retrieved 13 December 2011 a b c d Private Equity Council members adopt guidelines for responsible investment PDF Principles for Responsible Investment Private Equity Council 10 February 2009 Archived from the original PDF on 12 November 2012 Retrieved 13 December 2011 Private Equity Women s Initiative AIC PDF AIC Archived from the original PDF on 16 August 2017 Retrieved 15 August 2017 Private Equity at Work in Your State Interractive Map Private Equity Growth Capital Council Retrieved 12 May 2014 permanent dead link The 214 Billion Map PEGCC Report Breaks Down Pension Fund Investment by State Ranks Top Funds by Returns and Allocation In the News Private Equity Growth Capital Council 17 September 2012 Retrieved 12 May 2014 Today the Private Equity Growth Capital Council PEGCC unveiled Private Equity at Work in Your State an interactive map that for the first time aggregates state by state information about large public pension plans and their investments in private equity permanent dead link Foley Stephen 17 May 2007 Congress warns private equity over excess profits The Independent London Michael J de la Merced 4 June 2008 Union Takes Anti Buyout Campaign Worldwide The New York Times Retrieved 13 December 2011 PEC buyouts better businesses Private Equity International Private Equity International 6 September 2007 Adler Neil 18 January 2008 Private equity transactions led to more jobs Silicon Valley San Jose Business Journal Retrieved 22 December 2011 Study finds buyouts boost jobs Private Equity International 17 January 2008 Private equity industry rejects criticism Hedgeweek GFM Ltd 29 July 2010 Sanati Cyrus 17 December 2008 Private Equity Council s View of Obama s Priorities Dealbook The New York Times Company Retrieved 3 December 2011 Jacobius Arleen 17 May 2010 Council measures private equity s impact Pensions amp Investments Crain Communications Inc Retrieved 13 December 2011 Phillips Frank 16 November 2009 Pagliuca sees a role for lobbyists Firm s record at odds with campaign stance The Boston Globe Retrieved 13 December 2011 Testimony by Douglas Lowenstein President Private Equity Council PDF House Financial Services Committee Hearing U S House of Representatives 6 October 2009 Retrieved 23 June 2011 a b Schor Elena 15 July 2009 Private Equity Council supports SEC registration rules Infrastructure Investor PEI Media Group Limited Retrieved 13 December 2011 permanent dead link House names witnesses for PE hearing Private Equity Asia PEI Media Group Limited 8 June 2007 permanent dead link Sorkin Andrew Ross 11 March 2007 Of Private Equity Politics and Income Taxes The New York Times Retrieved 30 January 2012 Labaton Stephen Anderson Jenny 11 July 2007 Mr Kravis Goes to Washington Capra Rolls Over The New York Times Retrieved 30 January 2012 a b Schor Elena 27 April 2009 Private Equity Firms Lobby Less As Industry Trade Group Takes More Cash Washington Independent Retrieved 13 December 2011 Lattman Peter 23 August 2011 Private Equity s Top Lobbyist Steps Down Dealbook The New York Times Retrieved 13 December 2011 Rubin Richard Sloan Steven Talev Margaret 13 September 2011 Obama Proposes Tax on Bonds Carried Interest for Wealthy Bloomberg Businessweek Archived from the original on 27 January 2012 Retrieved 23 December 2011 External links EditPrivate Equity Growth Capital Council website PEGCC membership Retrieved from https en wikipedia org w index php title American Investment Council amp oldid 1171709423, wikipedia, wiki, book, books, library,

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