Policymakers on why private equity investments are critical for their states and districts
Private equity is supporting businesses in every state and Congressional district in the U.S. Hear directly from elected officials from both sides of the aisle about how private equity supports businesses, workers, and public pension beneficiaries in their states and districts.
Sen. Pat Toomey – “The numbers from private equity have been very good”
Senate Banking Committee Ranking Member Pat Toomey (R-PA) discussed how private equity continues to generate the highest returns of any asset class because private equity employs active managers who closely partner with businesses, “The numbers from private equity have been very, very good … It’s the fact that most of the most successful private equity firms add value to their portfolio companies. That’s their real reason for being successful. They have developed an expertise, very often it’s industry specific, where they make an investment and then they immediately begin to add value in the management of the operations of that company and through the networks that they bring to the table. So, there is a good reason why they have been able to have very high rates of return and performance numbers.”
Sen. John Kennedy – “Private equity is a huge part of [Louisiana’s] retirement system’s investments”
Senator Kennedy (R-LA), at a Senate Finance Committee hearing, discussed how his former role as Louisiana State Treasurer and his positions on the board of directors for several state retirement systems have given him first-hand insight into the valuable returns private equity generates for public servants.
Rep. Stephanie Murphy – “For Florida, we have more than $6 billion in private equity investments”
In an interview with The Hill, Representative Stephanie Murphy (D-FL) discussed how private equity supports jobs in Florida by investing $6 billion dollars in more than 13,000 private equity-backed businesses in the sunshine state.
Sen. Tim Scott – “I’m excited about the future of private equity in South Carolina”
In a 2021 conversation with Punchbowl News, Senator Tim Scott (R-SC) discussed how private equity investments have been critical to the economy in his state, “I think we’ll see a lot of growth in opportunity zones and frankly in private equity in job creation in my state. 168,000 jobs are supported by private equity. Frankly, I think that number is only going to climb very quickly … I’m excited about the future of private equity in South Carolina.”
Rep. Bryan Steil – Private equity returns are positive for the Wisconsin pension fund
In a 2020 event with The Hill newspaper, Representative Bryan Steil (R-WI) discussed how the State of Wisconsin Investment Board depends on robust private equity returns to support the retirements of public servants in his district and across the state.