The Private Equity Growth Capital Council, or PEGCC, has a new name, the American Investment Council (AIC), to reflect its expanded mission. The renamed trade association will seek to promote private equity’s contributions to Main Street: helping to fund public pensions, building critical infrastructure, growing the economy.
The increased diversity of PE firms and growing focus of the industry has led the PEGCC to expand its organizational purpose. The PEGCC has been re-named the American Investment Council (AIC), and in its expanded mission, the AIC seeks to “advance access to capital, job creation, retirement security, innovation, and economic growth in the United States by promoting responsible long-term investment.”
“This is a major step forward for our organization as we work to promote private equity and serve as a resource to our member firms,” said AIC President and CEO Mike Sommers. “The American Investment Council represents the full spectrum of private investment and the value it creates for every state in our country. It is more than a new name, it is a renewed commitment to be the voice for private equity in the United States.”
“These changes reflect the broader focus of our member firms post-financial crisis,” said AIC Chairman of the Board and KKR Member Ken Mehlman. “Today, our industry is enhancing retirement security, partnering to grow companies, building critical infrastructure, and providing capital to Main Street without systemic risk.”
The AIC has created a robust agenda for its membership in 2016. The organization will host over 30 member events in 2016, and convene eight different committees and working groups to share private equity best practices and insights. Offerings span from Environmental, Social, and Governance (ESG) seminars to Chief Compliance Officers Working Group meetings, and a newly-developed Young Professionals Network.
“Private equity is the best performing asset class for U.S. public pensions and generates long-term economic growth throughout our country,” said AIC Vice President of Public Affairs James Maloney. “Our updated mission and name gives us the opportunity to share these positive outcomes at a time when the industry continues to grow.”
In coordination with these changes, the AIC has revamped its website. The new site – www.investmentcouncil.org – prominently features original research and streamlined search functionality. It will aggregate in-house and third party private equity research, along with private equity news and policy information, educational materials, membership guidance, and interactive features.
About the American Investment Council
The American Investment Council (AIC) is an advocacy and resource organization established to develop and provide information about the private investment industry and its contributions to the long-term growth of the U.S. economy and retirement security of American workers. Member firms of the AIC consist of the country’s leading private equity and growth capital firms united by their successful partnerships with limited partners and American businesses. More information about the AIC can be found at www.investmentcouncil.org.