NEW YORK (HedgeWorld.com)–James Chanos, president of Kynikos Associates LP, will announce today [March 7] the launch of a lobbying group to represent the hedge fund industry. It is to be named the Coalition of Private Investment Companies (CPIC).
Mr. Chanos has been considering setting up a lobbying group to engage in the education of policymakers about the hedge fund industry and the benefits it provides to capital markets. People who know about CPIC told HedgeWorld.com last month that the coalition will not seek to replace the Managed Funds Association as a representative of the hedge funds industry nor to compete with it in terms of conferences, publications or industry best practices.
The CPIC’s operations will be led by Andrew Lowenthal of Porterfield & Lowenthal, a new lobbying group set up to represent the interests of some Wall Street groups.