Houston, TX – 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 third 2020 primary debate this week in Houston, our new video highlights how private equity supports a stronger Texas economy.
- Investment: Private equity invested more than $461 billion in Texas-based businesses from 2013-18.
- Jobs: Private equity-backed businesses based in Texas employ 744,959 workers.
- Businesses: Private equity investments supported 2,884 businesses based in Texas from 2013-18.
- Retirement: Private equity grows the pensions of 2.2 million Texans. In 2018, Private equity delivered a 11.10 percent return for the Houston Firefighters’ Relief and Retirement Fund (HFRRF), which was the 7th highest private equity returns of any public pension in a recent study from the American Investment Council.
- “We are very confident in the prospects for private equity investments in our long-term investment mix,” said Brett Besselman, Chairman of the Board of Trustees for HFRRF’s 7,354 active and retired members and beneficiaries. “Private equity opportunities far exceed those available in stock market investing for the foreseeable future and are a welcome addition to our portfolio diversification effort.”
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.
View a short accompanying video here.
Read our previous release examining how private equity supports jobs and public pensions in Michigan and Florida.