Private Equity Supports Ohio
Westerville, OH - The private equity industry employs millions of Americans and provides a secure retirement for first responders, schoolteachers and dedicated public servants in all 50 states. Leading up to the 2020 presidential election, the American Investment Council is highlighting how private equity helps workers and businesses in early primary and caucus states. With the Democratic Party holding its fourth 2020 primary debate this week in Westerville, our new video shows how private equity supports a stronger Ohio economy.
- Investment: Private equity invested more than $92.69 billion in Ohio-based businesses from 2013-2018.
- Jobs: Private equity-backed businesses based in Ohio employ more than 230,000 workers.
- Businesses: Private equity investments supported 837 businesses based in Ohio from 2013-18.
- Retirement: Private equity delivered a 13.30% return for the Ohio School Employees Retirement System (SERS) in 2018, which was the 2nd highest private equity returns of any public pension in a recent study from the American Investment Council. Ohio SERS represents more than 244,000 schoolteachers across Ohio.
- “Private Equity has a 10% allocation in our portfolio and it is very important that we strive to achieve superior returns in this space, where the dispersion of returns can be very wide,” said SERS Chief Financial Officer Farouki Majeed, CFA. “Our Private Equity strategy is very focused and selective and it is gratifying to note that our efforts have delivered strong performance for our fund and its members.”
- Investing in America: There are currently 5.8 million Americans who are employed by 35,000 private equity-backed businesses across America. Between 2013-18, private equity invested an estimated $3.4 trillion to help these American businesses grow.
Highlighting a Local Private Equity Success Story in Huron, Ohio
One example of a successful private equity investment in Ohio is n2y – an education technology company that develops learning solutions for students with unique learning needs. This Huron, Ohio company has grown since The Riverside Company invested in 2016. Here is their story:
Since The Riverside Company invested, n2y has:
- Created new jobs and expanding its facility in Huron, OH.
- Reached more students and become available in more classrooms around the country.
- Expanded sales and marketing teams in order to support the learning of more students.
- Changed the lives of students nationwide.
N2y is one of many private equity success stories in Ohio and across the country.
Read our previous release examining how private equity supports jobs and public pensions in Michigan, Florida, and Texas.