Private Equity Council issues statement on FDIC’s proposed guidelines for investment of private capital in banking institutions
WASHINGTON, DC, July 2, 2009 – The Private Equity Council today issued the following statement on the Federal Deposit Insurance Corporation’s proposed guidelines for the investment of private capital in banking institutions.
The statement should be attributed to Douglas Lowenstein, President of the Private Equity Council.
“Private investment is an important source of capital for the banking system at a time of distress, and can reduce costs to the FDIC’s insurance fund.
“We believe that the FDIC’s proposed guidance would deter future private investments in banks that need fresh capital.
“We hope that the comment period yields changes that facilitate the flow of private capital into the banking system, consistent with the Administration’s other efforts to address the financial crisis.”
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; and TPG Capital (formerly Texas Pacific Group).
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