AIC & Punchbowl News Host Event with Rep. Rudy Yakym Discussing How Private Capital is Investing in Indiana
Rep. Yakym: “We want to really get on this path of democratizing access to private capital, to allow more Hoosiers to make their own investment decisions”
WASHINGTON, D.C. – Earlier this week, the American Investment Council (AIC) sponsored an event in South Bend, Indiana, hosted by Punchbowl News featuring Representative Rudy Yakym (R-IN) and Will Dunham, President & CEO of AIC. The conversation focused both on how private investment is supporting Indiana small businesses, manufacturers, and workers and how expanding access to private investments can support stronger returns for millions of Americans’ 401(k)s.
Private equity delivers for American workers and small businesses across the country, and in Indiana. Private equity-backed businesses support over 276,000 jobs across the state of Indiana and provide $23B in wages and benefits for Hoosier workers. Private equity invested over $47 billion in Indiana businesses between 2022 and 2024 and contributed $40 billion to the state’s GDP.
“Private capital “invests and reinvests” in Indiana workers and businesses”
Rep. Yakym (R-IN) spoke about the significant role that private capital plays in supporting Indiana businesses, “I think of a company on the southwest side of South Bend called Pure Green Farms… I think of a company called Surf Internet…They needed help growing, and so private capital came in and gave them a significant infusion. And the real story here is that they invest and reinvest. They grow their companies. They hire more workers here, which helps keep the entrepreneurial spirit alive and well, but also provides good paying jobs for the constituents that I’m fortunate to serve.”
“We want to allow more Hoosiers to make their own investment decisions”
Rep. Yakym (R-IN) also discussed how President Trump’s recent executive order democratizing access to private investments for 401(k) investors could benefit his Hoosier constituents, “Private capital and private companies are something that oftentimes has been accessible only to wealthy Americans…we want to really get on this path of democratizing access to private capital, to allow more Hoosiers to make their own investment decisions about where they should invest …Factory floor workers here in this district should be able to put their money where they believe it is best, and for them to have access to private capital, where oftentimes you get outsized returns compared with the rest of the market, I think that’s a good thing.”
Private investment is bringing supply chains back to America
AIC President and CEO Will Dunham discussed how private investment supports small businesses and manufacturing across the country, including providing “10,000 jobs here in the second district in Indiana, almost 300,000 private equity backed jobs across Indiana, and 13 million private equity backed jobs across the United States. Now, those numbers tell a story, but I think if you drill down and look at where our members are investing, the story becomes even clearer. For example, manufacturing, the private equity industry has invested $1 trillion over the last decade… Think of how many supply chains that brought home. Think of how many supply chains that kept here at home, both here in Indiana and across the country.”
More than 85% of private investments support main street small businesses
Will Dunham also discussed how private investments primarily support small businesses, “A lot of people think of Wall Street when they think of private equity, but we encourage them to think of Main Street. Like here in South Bend, 85% of private equity investment goes to small and medium sized businesses with a median size of 72 employees. Now those aren’t the headlines you see in the Wall Street Journal, and that’s why it’s important that we tell the story of our industry. And that’s sort of the story we’re telling to help people understand exactly where the investments are going, where the jobs are being created.”
All Americans should have access to strong private investment returns
Will Dunham concluded by discussing how President Trump’s recent executive order expanding access to private investments for 401(k)s can help Americans saving for retirement, “if you passed a teacher or a firefighter or a policeman on the way here, odds are their pension is secured by investments in private equity and private credit. It’s been the best performing asset class over the long haul for those public pensioners, for those defined benefit pensions. The problem is…401(k) holders cannot currently invest in private equity and private credit. That’s not an option to them today… this shouldn’t be something that’s only for the wealthy. It should be something that, you know, the worker here in Indiana too can log into their 401(k) account and choose if they’d like and get the help of a professional manager and pick that mix that’s right for them.”
Click here to watch the full event hosted by Punchbowl News.
