ICYMI: Policymakers, Business Leaders, and Economists Discuss How Private Equity Supports Jobs, Businesses and Retirees Across America

Representative Stephanie Murphy (D-FL) began the event by discussing how private equity invests $6 billion and supports 13,000 jobs in her Florida congressional district alone. Across the entire Sunshine State, private equity invested more than $47 billion in 292 Florida-based businesses last year.

Representative Bryan Steil (R-WI) joined the live event to discuss how the State of Wisconsin Investment Board depends on robust private equity returns to support the retirements of public servants in his district and across the state.

BJ’s Wholesale Executive Chairman Chris Baldwin discussed how private equity partnered with BJ’s in 2015 to help the company modernize and survive a difficult period.

In the sponsor perspective section, AIC Board Member Pam Hendrickson and the Riverside Company Vice Chairman and COO interviewed two Riverside portfolio company leaders. First, Helee Lev of Goby Inc. discussed how private equity supports entrepreneurs and helps to turn their 3:30 AM idea into successful businesses.

Next up, Chrissy Wostmann of educational company N2Y, discusses how her initial perception of private equity changed after The Riverside Company worked closely with her to help her business grow and meet the challenges of the current COVID-19 crisis.

Pam Hendrickson concluded the sponsor segment by discussing a recently released study from the American Investment Council showing that private equity currently invests more than $700 billion in 5,000 American businesses.

In the last segment of the event, host Steve Clemmons of the Hill Newspaper was joined by two academic experts who have extensively studied the private equity industry. Greg Brown, a professor of finance at the UNC Kenan-Flagler Business School and research director at the Institute for Private Capital, discussed how private equity is particularly well situated to help companies struggling during the current COVID-19 crisis.

Finally, Francesca Cornelli, Dean of Northwestern’s Kellogg School of Management and the Donald P. Jacobs Chair of Finance, discussed how her research shows that private equity firms which focus on operational management help create value for their portfolio companies.