Private Equity Council Changes Name To Reflect Expanded Membership; Forms Growth Capital Committee

The Private Equity Council changed its name to the Private Equity Growth Capital Council. The change reflects the group’s expanded and diversified membership. It sought to broaden its membership earlier this year and now has 30 members with assets under management ranging less than $1 billion to $20 billion. The council also plans to form a Growth Capital Committee to deal with issues of interest to mid and small market firms.

PRESS RELEASE

Reflecting its expanded and diversified membership, the Private Equity Council announced today that it has changed its name to the Private Equity Growth Capital Council.

The Council earlier this year launched a major effort to broaden membership beyond the founding firms. In the last few months, the following new members have joined: Avista Capital Partners; Brockway Moran & Partners; Crestview Partners; Genstar Capital; Global Environment Fund; GTCR; Kelso & Company; KPS Capital Partners; Levine Leichtman Capital Partners; MidOcean Partners; New Mountain Capital; The Riverside Company; Sterling Partners; Sun Capital Partners; TA Associates; Thomas H. Lee Partners; Vector Capital; and Welsh, Carson, Anderson & Stowe. Discussions with more firms continue. The additions to date bring total membership to 30.

“Private equity firms invest in a broad spectrum of businesses, from startups to mature companies, and they use varying capital structures to complete acquisitions,” said PEGCC President Douglas Lowenstein. “But they are united by a commitment to growing and strengthening portfolio companies. Our new members will help us better tell the story of how private equity investment delivers substantial economic benefits to companies of all types and sizes in virtually every state in this country. And our new name better conveys what private equity is all about: growing companies.”

Diverse investments

Investments by new member firms span a range of industries, including clean technology and clean energy, defense and government services, education, food services, financial services, healthcare, Internet services, manufacturing, sustainable forestry, software, and others. Assets under management range from less than $1 billion to $20 billion.

“We welcome our new members and look forward to working with them on a broad range of legislative, regulatory and business issues that affect the entire private equity investment community,” said PEGCC Chairman Mark Tresnowski, general counsel and managing director of Chicago-based Madison Dearborn Partners.

“We emphasize growth, and our portfolio companies have added or created over 7,000 jobs in recent years, net of any job losses, and spent more than $700 million on R&D,” said Steven B. Klinsky, Founder and Chief Executive Officer of New Mountain Capital. “We think hearing about our firm, and others like us, will raise awareness about the wide-ranging nature of private investment firms.”

“The Private Equity Council has proven its value in effectively representing our industry during one of the most turbulent and challenging times that our industry has faced,” said Anthony de Nicola, Co-President and General Partner of Welsh Carson. “We’re pleased to join with some of the best-known and most well respected investment firms in the country to help continue that critically important effort,” he added.

“Too many policy makers mistakenly conclude that private equity is just about a small group of very large and well-known firms,” said Peter Brockway, managing partner at Brockway Moran. “Firms like ours are less visible but provide critical financing to hundreds of smaller firms seeking capital to grow. By joining the PEGCC we will help tell the story of this key segment of the private equity world.”

As part of its new structure, the Private Equity Growth Capital Council will create a Growth Capital Committee to consider and act on issues directly involving and affecting mid and small market firms.

Current members are: Apax Partners; Apollo Global Management LLC; Bain Capital Partners; The Blackstone Group; The Carlyle Group; Hellman and Friedman LLC; Kohlberg Kravis Roberts & Co.; Madison Dearborn Partners; Permira; Providence Equity Partners; Silver Lake; and TPG Capital. (Thomas H. Lee Partners was an original founding member that is rejoining the Council.)

About the Private Equity Growth Capital Council

Based in Washington, DC, the Private Equity Growth Capital Council is an advocacy, communications and research organization and resource center established to develop, analyze and distribute information about the private equity and growth capital investment industry and its contributions to the national and global economy. Members are: Apax Partners; Apollo Global Management LLC; Avista Capital Partners; Bain Capital Partners; The Blackstone Group; Brockway Moran & Partners; The Carlyle Group; Crestview Partners; Genstar Capital; Global Environment Fund; GTCR; Hellman and Friedman LLC; Kelso & Company; Kohlberg Kravis Roberts & Co.; KPS Capital Partners; Levine Leichtman Capital Partners; Madison Dearborn Partners; New Mountain Capital; MidOcean Partners; Permira; Providence Equity Partners; The Riverside Company; Silver Lake; Sterling Partners; Sun Capital Partners; TA Associates; Thomas H. Lee Partners; TPG Capital; Vector Capital; and Welsh, Carson, Anderson & Stowe.

Private Equity Growth Capital Council Robert W. Stewart, 202-465-7711 roberts@privateequitycouncil.org