AIC, Blackstone, NVCA splash cash on lobbying

The three entities each spent more than $1.5 million trying to influence US government policy in 2017.

Private fund managers and industry bodies spent an aggregate $10 million lobbying the US government in 2017, according to Washington DC-based research group Center for Responsive Politics.

At least 14 firms and associations lobbied the government during the year, with all but one aiming to change tax reform proposals along with other aspects of public policy, the data show.

The National Venture Capital Association spent the most at $2.2 million, followed by the American Investment Council ($1.6 million) and Blackstone ($1.5 million).

Proposed change to carried interest treatment was the most commonly lobbied issue, with the AIC trying to influence law makers on the “carried interest holding period provisions in tax reform reconciliation,” according to a disclosure document published on the research group’s site.

The table below details how much various firms and industry bodies paid for lobbying efforts during 2017.

Firm/organization Lobbying expenses 2017 ($) % change on 2016
American Investment Council 1,600,000 34%
Bain Capital 320,000 0%
Blackstone 1,500,000 -33%
Brookfield Asset Management 90,000 100%
Carlyle 790,000 44%
Cerberus Capital 1420000 -21%
ILPA 204,000 51%
KKR 710,000 5%
Macquarie 280,000 33%
Main Street Capital 60,000 0%
National Venture Capital Association 2,185,000 10%
Oaktree Capital Management 310,000 -3%
TPG Capital 500,000 12%