The Private Equity Growth Capital Council has named Steve Judge, the council’s vice president of government affairs, as interim president and chief executive officer. Judge replaces Douglas Lowenstein, who is stepping down as CEO as of September 1. The Washington, D.C.-based group is searching for a permanent president and chief executive.
The Private Equity Growth Capital Council (PEGCC) today announced that Steve Judge, the council’s vice president of government affairs, has been named interim president and chief executive officer. Mr. Judge succeeds Douglas Lowenstein, who is stepping down as CEO as of September 1 and will remain in an advisory role through the end of the year. A search for a permanent president and chief executive officer is underway.
“It has been a privilege to launch and run the PEGCC, and represent the private equity industry.” Mr. Lowenstein said, “I am proud of all we accomplished, including building bridges between policymakers and the industry during some of the most challenging economic times in a generation. Our research program, our advocacy program, our grassroots programs, and our efforts to enhance communication between policymakers and the men and women who work in private equity has helped build a better understanding among a wide audience about the important and positive contributions private equity makes to the economy. With the PEGCC and the industry it serves in a far better place than when we started, now is a good time to step aside for new leadership.”
Mark B. Tresnowski, chairman of the PEGCC and managing director and general counsel of Madison Dearborn Partners, a PEGCC member firm said, “The PEGCC has established itself as the preeminent organization educating the public about the many benefits the private equity and growth capital investment industry delivers to the economy. As the council continues to evolve and grow, this is the right time for new leadership. Steve and his team have the full support of the member firms, and we look forward to adding a proven executive who can lead the council into the next stage of its development.”
Mr. Tresnowski added, “Doug did a remarkable job building a highly effective and talented organization from scratch. From the moment of its creation through the Great Recession to today’s challenging markets, the PEGCC has given voice to an important and growing industry. We are grateful for Doug’s tireless and successful efforts and wish him well.”
Mr. Judge said, “The beneficial role that private equity and growth capital firms play in driving change and value creation in the U.S. and global economies is critically important, and my colleagues and I remain focused on ensuring that this role is properly understood and appreciated. PEGCC member firms own and invest in over 500 portfolio companies that employ nearly 2 million people across the United States and communicating that message to policymakers remains the top priority of this organization.”
About the Private Equity Growth Capital Council
The Private Equity Growth Capital Council (PEGCC) 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. Established in 2007 and formerly known as the Private Equity Council, the PEGCC is based in Washington, D.C. The members of the PEGCC are 36 of the world’s leading private equity and growth capital firms united by their commitment to growing and strengthening the businesses in which they invest.