The American Investment Council has announced the appointment of Dillon Iwu to the newly created role of director of government affairs, a move that signals the lobbying agency’s efforts to deepen its focus on state and local governments.
Iwu is based in Los Angeles and begins his tenure by focusing “on the association’s state advocacy efforts, building stronger relationships with California state legislators and federal advocacy,” the organization said.
“There is an increasing need to educate state officials about the benefit of private equity as they legislate on issues that impact the industry,” said a spokesperson for the organization.
Some states have made moves in recent years to close the carry tax loophole, seeing the federal government’s introduction of the three-year carry tax rule, which penalizes firms for selling assets before a three-year holding period expires, as not going far enough. Maryland issued a proposal to close the loophole earlier this year, and a similar law was passed in New Jersey in 2019.
Iwu spent many years in political organizing, including a role as a senior field representative for California Democratic Congresswoman Karen Bass, organizing for the Services Employees International Union (SEIU) and senior field director for both Vote Atlantic City Proud and Stand Up & Vote Louisiana.
He still serves as a board member for the Los Angeles Venture Associates (LAVA), where he advises the organization on state and federal legislative updates affecting the VC and PE landscape in California.
Iwu began his new role on December 14.