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Private Equity Council Adds 18 New Members, Changes Name to Private Equity Growth Capital Council

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Private Equity Council Adds 18 New Members, Changes Name to Private Equity Growth Capital Council EMBARGOED FOR RELEASE UNTIL 12:01 A.M. EDT TUESDAY, SEPTEMBER 14 Contact: Robert W. Stewart 202.465.7711 [email protected] Private Equity Council adds 18 new members, changes name to Private Equity Growth Capital Council WASHINGTON, DC, SEPTEMBER 14, 2010 – Reflecting its expanded and diversified membership, the Private Equity Council announced today that it has changed its name to the Private Equity Growth Capital Council. The Council earlier this year launched a major effort to broaden membership beyond the founding firms. In the last few months, the following new members have joined: Avista Capital Partners; Brockway Moran & Partners; Crestview Partners; Genstar Capital; Global Environment Fund; GTCR; Kelso & Company; KPS Capital Partners; Levine Leichtman Capital Partners; MidOcean Partners; New Mountain Capital; The Riverside Company; Sterling Partners; Sun Capital Partners; TA Associates; Thomas H. Lee Partners; Vector Capital; and Welsh, Carson, Anderson & Stowe. Discussions with more firms continue. The additions to date bring total membership to 30. “Private equity firms invest in a broad spectrum of businesses, from startups to mature companies, and they use varying capital structures to complete acquisitions," said PEGCC President Douglas Lowenstein. "But they are united by a commitment to growing and strengthening portfolio companies. Our new members will help us better tell the story of how private equity investment delivers substantial economic benefits to companies of all types and sizes in virtually every state in this country. And our new name better conveys what private equity is all about: growing companies.” Diverse investments Investments by new member firms span a range of industries, including clean technology and clean energy, defense and government services, education, food services, financial services, healthcare, Internet services, manufacturing, sustainable forestry, software, and others. Assets under management range from less than $1 billion to $20 billion. “We welcome our new members and look forward to working with them on a broad range of legislative, regulatory and business issues that affect the entire private equity investment community,” said PEGCC Chairman Mark Tresnowski, general counsel and managing director of Chicago-based Madison Dearborn Partners. "We emphasize growth, and our portfolio companies have added or created over 7,000 jobs in recent years, net of any job losses, and spent more than $700 million on R&D," said Steven B. Klinsky, Founder and Chief Executive Officer of New Mountain Capital. "We think hearing about our firm, and others like us, will raise awareness about the wide-ranging nature of private investment firms." -MORE- EMBARGOED FOR RELEASE UNTIL 12:01 A.M. EDT TUESDAY, SEPTEMBER 14 PRIVATE EQUITY GROWTH CAPITAL COUNCIL -TWO-TWO-TWO- “The Private Equity Council has proven its value in effectively representing our industry during one of the most turbulent and challenging times that our industry has faced,” said Anthony de Nicola, Co-President and General Partner of Welsh Carson. “We’re pleased to join with some of the best-known and most well respected investment firms in the country to help continue that critically important effort,” he added. “Too many policy makers mistakenly conclude that private equity is just about a small group of very large and well-known firms,” said Peter Brockway, managing partner at Brockway Moran. “Firms like ours are less visible but provide critical financing to hundreds of smaller firms seeking capital to grow. By joining the PEGCC we will help tell the story of this key segment of the private equity world." As part of its new structure, the Private Equity Growth Capital Council will create a Growth Capital Committee to consider and act on issues directly involving and affecting mid and small market firms. Current members are: Apax Partners; Apollo Global Management LLC; Bain Capital Partners; The Blackstone Group; The Carlyle Group; Hellman and Friedman LLC; Kohlberg Kravis Roberts & Co.; Madison Dearborn Partners; Permira; Providence Equity Partners; Silver Lake; and TPG Capital. (Thomas H. Lee Partners was an original founding member that is rejoining the Council.) About The New Members Avista Capital Partners Avista Capital Partners is a leading private equity firm with offices in New York, Houston, and London. Founded in 2005, Avista's strategy is to make controlling or influential minority investments primarily in growth-oriented healthcare, energy, and media companies. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses. www.avistacap.com. Brockway Moran & Partners Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management. The firm acquires growth-oriented middle market companies valued between $50 million and $300 million in partnership with exceptional management teams. Brockway Moran focuses on businesses with significant growth opportunities either through internal expansion, industry consolidation or innovative business strategies. The principals of the firm have a record of productively working with management teams to build companies into larger and more diverse enterprises. Brockway Moran & Partners invests in a broad spectrum of industries with significant experience in consumer, industrial and service businesses. Since 1998, the firm has completed over 50 acquisitions. www.brockwaymoran.com -MORE- EMBARGOED FOR RELEASE UNTIL 12:01 A.M. EDT TUESDAY, SEPTEMBER 14 PRIVATE EQUITY GROWTH CAPITAL COUNCIL -THREE-THREE-THREE- Crestview Partners Crestview Partners is a New York‐based private equity firm with over $4 billion of assets under management. Crestview was founded in 2004 and is led by six partners who have a long and successful track record as executives in the private equity business and senior management of Goldman Sachs and Morgan Stanley. Crestview has a value‐oriented investment strategy and takes a prudent and disciplined approach to risk. Crestview is focused on partnering with strong management teams and adding value to its investments through the firm’s relationship network and senior operating capabilities. Crestview currently manages 14 investments across two fund complexes. www.crestview.com Genstar Capital Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than US$3 billion of committed capital under management and targets investments focused on selected sectors within the software, healthcare, financial services, and industrial technology industries. www.gencap.com Global Environment Fund Established in 1990, the Global Environment Fund (GEF) invests in businesses around the world that provide cost-effective solutions to environmental and energy challenges. The firm manages private equity dedicated to clean technology, emerging markets, and sustainable forestry, with approximately $1 billion in aggregate capital under management. GEF’s investors include prominent endowments, foundations, family offices, and pension funds. www.globalenvironmentfund.com GTCR Golder Rauner Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.0 billion in over 200 companies. www.gtcr.com Kelso & Company Kelso & Company is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has made investments in over 100 companies in a broad range of industry sectors with aggregate initial capitalization at closing of over $36 billion and has managed eight private equity partnerships with total capital committed of over $10 billion. The firm is currently investing its eighth partnership, Kelso Investment Associates VIII, L.P., with -MORE- EMBARGOED FOR RELEASE UNTIL 12:01 A.M. EDT TUESDAY, SEPTEMBER 14 PRIVATE EQUITY GROWTH CAPITAL COUNCIL -FOUR-FOUR-FOUR- $5.1 billion of committed capital. Our Principals and employees are collectively the single largest investor in each of our three most recent funds, which creates a strong alignment of interests with our limited partners and management teams. Kelso focuses its efforts and resources primarily on investment opportunities in growing middle market companies and has built its successful investment record by working in close partnership with experienced and talented management teams. Kelso enjoys a reputation of being an attractive partner for management due to the firm’s long-term view to building shareholder value, the continuity and stability of the firm’s employees, Kelso’s significant level of personal investment, and its willingness to support growth in its portfolio companies. www.kelso.com KPS Capital Partners KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family
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