Blackstone, AIC, NVCA splash cash on lobbying

The three entities spent more than $5.3m in total 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.