Doug Lowenstein to set up trade body

Former ESA president sets date to leave the video game industry and head up Private Equity Council.

Just before the holidays, Entertainment Software Association president Doug Lowenstein announced his departure both from his position at the ESA and the game industry as a whole.

While it was already known he would leave to help form a trade group, specific details of his new venture have since been announced. Next month, Lowenstein will become president and CEO of the Private Equity Council (PEC) as it formally begins operations. He will leave his current role at the same time.

Initial members of the PEC will include Apollo Management, Bain Capital, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co. (KKR), Madison Dearborn Partners, Providence Equity Partners, Silver Lake Partners, Texas Pacific Group, and Thomas H. Lee Partners.

The Washington, DC-based association states its purpose will be "to conduct research and provide information about the [private equity] industry to policy makers and others interested in understanding what private equity is, how it operates, and the increasingly important role this alternative asset class plays in the US and global economy."

Lowenstein was the first president of the Interactive Digital Software Association, which was formed in April 1994 and became the ESA in 2003. GameSpot recently interviewed Lowenstein about his decision to leave the ESA and what lies ahead for the industry.

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Discussion

14 comments
_Sam_
_Sam_

I thought he was just retiring :?

Cloud737
Cloud737

"While it was already known he would leave to help form a trade group, specific details of his new venture have since been announced." You mean unannounced, right, gamespot? Soo...can anyone explain what private equity is?

YukoAsho
YukoAsho

I was about to say, when do we find out who the next permanent ESA head will be? Here's to hoping it's a strong, competant individual who has the cojones to stand up to the government.

fahad2mail
fahad2mail

hmmmm....... i dont blv this. but this is true.

TryMe01
TryMe01

surprise, surprising and surprised. thats all i can say also, his record suggests that it could work out

Gmacrusher
Gmacrusher

why trade when you can make it better!

comthitnuong
comthitnuong

going into the trade industry huh...i didnt really expect that

hector1313
hector1313

Well, datniccah, the ESA represents games companies in any of the disputes that occur between morons who blame video games for violent outbursts by crazed teenagers, and other such things too. http://www.theesa.com/about/index.php Lowenstein set that big boy up, and we care because if it didn't exist, chances are the likes of Jack Thompson wouldn't have anything to be 'famous' for...

diminiansk8er
diminiansk8er

Well, who is the new president of ESA? CAN YOU TELL US THAT?!

datniccah187
datniccah187

No Doug don't go. Haha who exactly is Doug Lowenstein, and why do we care.