Private Equity Council
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| Formation | 2007 |
|---|---|
| Purpose | Advocacy, research and lobbying for the private equity industry |
| Headquarters | Washington DC, United States |
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President, CEO
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Mike Sommers |
| Website | http://www.investmentcouncil.org/ |
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.
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. That year, private equity firms were involved in around 28% of acquisitions by dollar value, compared to 3% in 2001. In late 2006, the Private Equity Council (PEC) was formed as the industry's principal lobbying organization. The trade association was officially launched in Washington, D.C., in February 2007.
PEGCC provides information and commissions research on issues including the impact of private equity on job creation and pension funds in order to influence business leaders, policymakers, the media, and labor organizations about the private equity industry. 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.
In 2010, the PEC expanded its membership to include a broader selection of private equity industry stakeholders. In September 2010, eighteen new members were added, including middle-market private equity firms and growth capital investment firms. Following this expansion, the PEC changed its name to the Private Equity Growth Capital Council (PEGCC) to reflect a broader membership. 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. In May 2010, the PEGCC changed its name to the American Investment Council to "reflect the increased diversity of PE firms and growing focus of the industry."
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