Activities
Since its launch in 2007, the Council has spent over $11 million on lobbying activities. It also commissions and publicizes research favorable to the private equity industry.
In addition to its research and lobbying activities, the trade association has developed guidelines for best practices for its industry. In 2009, it developed a set of "guidelines for responsible investment", which were adopted by its members, covering such issues as health, safety, labor, governance, transparency for stakeholders and respect for human rights. According to the Council, the guidelines were produced in accordance with the United Nations' Principles for Responsible Investment (PRI), from discussions between Council members and a group of institutional investors. The guidelines focus on transparency of private equity transactions and ensuring compliance with all applicable laws, both in the U.S. and overseas, and encourage adding value to members' portfolio companies. The Council received positive feedback on the guidelines from PRI executive director James Gifford, and the chief investment officers of both California Public Employees Retirement Systems (CalPERS) and California State Teachers' Retirement System (CalSTRS), however, the Service Employees International Union remained critical of the industry arguing that outside regulation was needed rather than internal guidelines.
Read more about this topic: Private Equity Growth Capital Council
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