Private Equity Council issues statement on Public-Private Investment Program
WASHINGTON, DC, March 23, 2009 — The Private Equity Council today issued the following statement on the U.S. Treasury Department’s planned Public-Private Investment Program (PPIP). The statement should be attributed to Douglas Lowenstein, President of the Private Equity Council.
“Addressing the troubled asset problem is an enormously complex task. The Private Equity Council commends the Obama Administration for its creativity in taking on this challenge. We are hopeful that PPIP will help reopen the credit markets, assist consumers and small businesses, and strengthen the financial system.
“As investors of long-term capital, private equity firms will be a part of the solution to the nation’s economic problems. We look forward to exploring whether PPIP opportunities can help us meet our fiduciary obligation to make investments that help secure the retirement income of public employees, police officers and firefighters, and help university endowments fund financial aid and basic research.”
About the Private Equity Council
The Private Equity Council, based in Washington, DC, is an advocacy, communications and research organization and resource center established to develop, analyze and distribute information about the private equity industry and its contributions to the national and global economy. PEC 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; THL Partners; and TPG Capital (formerly Texas Pacific Group).
