James Maloney leaves PE industry group AIC

  • Was spokesman for the PE lobbying group since 2014
  • “I’m now pursuing new opportunities,” says Maloney
  • AIC fighting several proposed changes to U.S. tax code

American Investment Council spokesman James Maloney has left the industry lobbying organization, he confirmed to Buyouts.

“I enjoyed my time at the AIC and working with the great team there, but I’m now pursuing new opportunities,” Maloney said.

Maloney has worked with the AIC since mid-2014, first as a director of communications and later as a vice president of public affairs, according to his LinkedIn page.

During that time, the council rebranded from its previous name — the Private Equity Growth Capital Council — and appointed Mike Sommers president and chief executive.

It’s unclear whether the AIC has named a successor to Maloney. External-communication duties are being managed by Laura Christof, who joined the organization earlier this year.

The council is combating tax-reform changes proposed by the House of Representatives and Senate, including caps to the deductibility of corporate interest. Another proposed change would force private equity firms to hold their portfolio companies for three or more years in order for carried interest to be treated as a capital gain.

“The proposed limitation to full interest deductibility … impacts not only the private equity industry, but every industry — from agriculture to telecommunications — that utilizes debt financing in order to make new investments and manage day-to-day operations,” Maloney told the Financial Times this week.

The American Investment Council declined to comment.

Action Item: For more on the AIC: www.investmentcouncil.org/

A tourist gazes up toward the dome of the U.S. Capitol in Washington on Jan. 25, 2010. REUTERS/Kevin Lamarque