New Ad: Private Equity Supports the States and Districts of All New Members of Congress
New print ad in POLITICO and video highlights how private equity supports small businesses and directly employs workers in new members’ local communities.
Washington, D.C. – Today, the American Investment Council (AIC) released a second print ad in POLITICO highlighting how the private equity industry supports jobs and invests billions of dollars in the communities of all new members of Congress.
- “We look forward to working with each new member of Congress – all of whom have private equity-back jobs and significant investment in their districts,” said Drew Maloney, President & CEO of AIC.“Because of the support of private equity, every Senator and Representative has the opportunity to further invest in workers and small businesses, strengthen the pensions of public sector workers and retirees, and grow their local economies.”
The POLITICO ad provides business and investment data in the states and districts of 10 new members of Congress:
- Sen. Ted Budd (R-NC): Nearly 1,110 private-equity backed businesses and $60 billion in private equity investment.
- Sen. Katie Britt (R-AL): Nearly 360 private-equity backed businesses and $4 billion in private equity investment.
- Rep. Rich McCormick (R-GA-06): Over 200 private-equity backed businesses and $12 billion in private equity investment.
- Rep. Daniel Goldman (D-NY-10): 340 private-equity backed businesses and $23 billion in private equity investment.
- Rep. Andy Ogles (R-TN-05): Over 220 private-equity backed businesses and $31 billion in private equity investment.
- Rep. Sydney Kamlager-Dove (D-CA-37): Nearly 90 private-equity backed businesses and $5 billion in private equity investment.
- Rep. Lori Chavez-DeRemer (R-OR-05): Nearly 60 private-equity backed businesses and $5 billion in private equity investment.
- Rep. Jill Tokuda (D-HI-2): Over 20 private-equity backed businesses and $2 billion in private equity investment.
- Rep. Juan Ciscomani (R-AZ-06): Nearly 70 private-equity backed businesses and $2 billion in private equity investment.
- Rep. Marie Gluesenkamp Perez (D-WA-03): Over 40 private-equity backed businesses and $520 million in private equity investment.
* PitchBook Data, investments made between 2017 – 2022
The first POLITICO ad included businesses and investment data for Sen. John Fetterman (D-PA), Sen. J.D. Vance (R-OH), Rep. Wesley Hunt (R-TX-38), Rep. Mike Lawler (R-NY-17), Rep. Brittany Pettersen (D-C0-07), Rep. Hillary Scholten (D-MI-03), Rep. Maxwell Frost (D-FL-10), Rep. Jasmine Crockett (D-TX-30), Rep. Zach Nunn (R-IA-03), and Rep. Harriet Hageman (R-WY-AL).
In 2022, 62 percent of all private equity went to small businesses in the U.S. Private equity invests in every state and district across the country, supporting jobs and small businesses in the communities of all 435 Members of Congress and 100 Senators. Across all 50 states, private equity backed companies employ approximately 11.7 million U.S. workers. Since 2017, private equity has invested over $5 trillion dollars in nearly 40,000 companies.
Private equity firms supported more than 1,200 businesses in districts represented by the 75 newly elected members of the U.S. House of Representatives and invested more than $38 billion in the states represented by the seven newly elected members of the Senate.
Private equity-backed companies significantly outperformed their unsponsored peers during the economic downturn caused by the COVID-19 pandemic in 2020, according to new academic research. Private equity-backed companies had higher growth in sales, assets, head count, and other key performance metrics in 2020 and 2021.
