Deals
Private Equity Lobbyist Changes Name as New CEO Eyes More Firms
- PEGCC becomes American Investment Council under Mike Sommers
- In shift, group aims to include smaller firms, funds of funds
A pedestrian passes in front of the Carlyle Group LP logo displayed on a building in New York on May 3, 2012.
Photographer: Scott Eells/BloombergThis article is for subscribers only.
The private equity industry’s lobbying group, which represents firms such as KKR & Co. and Carlyle Group LP, changed its name as Chief Executive Officer Mike Sommers casts a wider net for members affected by existing and potential regulations.
The American Investment Council, formerly known as the Private Equity Growth Capital Council, will expand its membership beyond buyout managers to include growth-equity firms, more middle-market investment groups and private equity funds of funds, the Washington-based organization will announce Tuesday.