WASHINGTON – The American Investment Council (AIC) announced today the election of Steve Klinsky as Chairman of the AIC’s Board of Directors. Since 1999, Klinsky has been Founder and Chief Executive Officer of New Mountain Capital, a growth-oriented private equity firm that currently manages more than $20 billion of assets. Klinsky was a pioneer in the private equity field, as co-founder of Goldman Sachs & Co.’s original Leveraged Buyout Group from 1981-1984, and as a Partner of Forstmann Little & Co. from 1984-1999.
“The AIC is thrilled to welcome Steve as our Chairman,” said AIC President and CEO Mike Sommers. “Steve is a thoughtful leader and successful businessman, with an exceptional track record of business-building for over thirty years. As a trailblazer in private equity and as founder and CEO of his own firm, he represents the thousands of hands-on private equity professionals and private equity owner-operators who work each day to create jobs and build better businesses. He can also clearly explain how the private equity industry earns the investment gains that strengthen retirement plans, generate tax revenues, and enhance local communities. Steve’s experience as an entrepreneurial business-builder can help our association continue to grow and communicate private equity’s positive impact across America.”
The AIC boasts a diverse membership of private equity, growth capital, and fund-of-fund firms as well as an associate member class of private equity service providers. The AIC develops industry research and information, which has helped make clear that private equity improves American businesses and enhances retirement security for millions of Americans.
“I have been a Member of the AIC Board of Directors for seven years, and it has always been a pleasure to be a part of the AIC’s efforts,” said Klinsky. “Over the years, I have watched the association help the American public better understand private equity’s positive potential. As chairman, I hope to help the AIC continue to explain that private equity firms work in a socially positive way to bring capital, strategies, and operating talent to thousands of companies every day.”
Klinsky succeeds Ken Mehlman, Member & Global Head of Public Affairs at KKR, as Chairman.
“The AIC thanks Ken for his excellent leadership as Chairman,” said Sommers. “His meaningful contributions to the association have made a lasting impact, and we are very appreciative that he will remain a Member of the Board of Directors.”