Private Equity Behemoths Form New Association

Jan 2 2007 | 10:23am ET

Big-name private equity firms have recently formed the Private Equity Council, a Washington, D.C.-based association whose purpose will be to conduct research and provide information about the industry to policy makers. The association will strive to explain what private equity is, how it operates and the increasingly important role this alternative asset class plays in the U.S. and global economy.

Douglas Lowenstein, current president of the Entertainment Software Association, the trade association representing the U.S. video game industry, was selected by the group as   president and CEO of PEC.  Lowenstein will assume his new responsibilities in February 2007, when PEC’s operations formally commence.

PEC’s membership list includes Apollo Management, Bain Capital, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co., Madison Dearborn Partners, Providence Equity Partners, Silver Lake Partners, Texas Pacific Group and Thomas H. Lee Partners.

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