Private Equity Council Formed, Doug Lowenstein Is Pres./CEO
December 28, 2006 at 6:42 AM (PT)
You'll recall that the recent CLEAR CHANNEL $26.7 billion deal was put together by private equity firms THOMAS H. LEE PARTNERS and BAIN CAPITAL, (NET NEWS 11/16), and now this growing sector of private equity firms has a unified face on CAPITOL HILL with the formation of the PRIVATE EQUITY COUNCIL, under the leadership of Pres./CEO DOUG LOWENSTEIN coming the President's slot at ENTERTAINMENT SOFTWARE ASSOCIATION, the trade association representing the U.S. video game industry.
The PEC will become a leading advocate for the domestic and international private equity industry as well as a resource for those seeking to better understand the industry’s role in the rapidly evolving global economy.
Initial members of PEC, will include: APOLLO MANAGEMENT, BAIN CAPITAL, THE BLACKSTONE GROUP, THE CARLYLE GROUP, HELLMAN & FRIEDMAN, KOHLBERG KRAVIS ROBERTS & CO. (KKR), MADISON DEARBORN PARTNERS, PROVIDENCE EQUITY PARTNERS, SILVER LAKE PARTNERS, TEXAS PACIFIC GROUP and THOMAS H. LEE PARTNERS.
That group, along with other private equity managers worldwide have an estimate value of $700 billion, and they will do around $300 billion in business when the numbers are all in for 2006.