What K Street is saying about the infrastructure deal — Hedge funds launch image revamp — Mutual insurers name new chief

From: POLITICO Influence - Thursday Jun 24,2021 09:32 pm
Presented by Facebook: Delivered daily, Influence gives you a comprehensive rundown and analysis of all lobby hires and news on K Street.
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By Caitlin Oprysko

Presented by Facebook

With Daniel Lippman

‘WE HAVE A DEAL’: K Street welcomed the news over the last 24 hours that the White House and a bipartisan group of senators had cleared a significant hurdle by blessing the contours of an infrastructure deal , though razor-thin margins in both chambers of Congress will continue to loom over the process of adding legislative text to the framework.

— “It’s kind of like Christmas,” said Holland & Knight’s Rich Gold. “You know it’s coming … but it gets here” and you’re surprised. And as the framework came into clearer focus on the Hill, so too did President Joe Biden’s and congressional Democrats’ insistence that the bipartisan, nearly $6 trillion deal move alongside a reconciliation package addressing “human infrastructure” issues. “That's not to say that there aren’t potholes in the process where this could fall in and end up not coming back,” Gold cautioned. “But I think, suffice to say, the speaker is not going to end up bringing down the Biden presidency.”

— “This is a process that is playing out right in front of us,” Nadeam Elshami , a former chief of staff to Speaker Nancy Pelosi who now lobbies for Brownstein Hyatt Farber Schreck, told PI, adding that while lobbyists had been laying the groundwork for months to ensure their clients’ priorities were included in the eventual legislation, “having certainty, having a piece of legislation to look at, to review,” certainly “makes life a bit easier.” He added: “I think everyone is optimistic with the sense that Infrastructure Week is perhaps finally coming to an end after maybe 10 years.”

— “I think what a lot of people are sensing,” S-3 Group’s Jose Ceballos said in an interview, “is there's a sense that this is real.” At this point, he argued, lobbyists are trying to determine whether priorities could fit into a reconciliation bill, while “the politics and the process completely takes over.”

— While cheerfully embracing the bipartisan deal, several major K Street players, like the U.S. Chamber of Commerce and the National Association of Wholesaler-Distributors, issued warnings to those who the Chamber’s chief policy officer Neil Bradley contended in a statement were attempting to “torpedo” the deal “unless they get $5 trillion in spending on unrelated items,” an apparent shot at progressives Bradley described as “the kind of tactics that have created the mess we are in today.” NAW President and CEO Eric Hoplin said in a statement that Biden “cannot improve the country’s infrastructure by pairing a bipartisan infrastructure bill with other legislation that increases taxes on small businesses and wholesaler-distributors that have spent the past year fighting” to survive.

Good afternoon and welcome to PI. Why don’t you tell me what’s in the bipartisan infrastructure deal, as well? My inbox is open: coprysko@politico.com. And be sure to follow me on Twitter: @caitlinoprysko.

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HEDGE FUNDS LAUNCH CAMPAIGN TO BURNISH THEIR IMAGE: After a rocky few months for hedge funds that saw money managers end up in lawmakers’ crosshairs on the Hill due to their roles in the GameStop saga and the collapse of Archegos Capital Management, the industry’s top lobbying group is launching a multimillion-dollar campaign aimed at burnishing hedge funds’ reputations among average Americans. The new push from the Managed Funds Association, called “Investing in Opportunity,” has been in the works for almost a year, long before the newest scrutiny in Washington, and will highlight the role hedge funds play in the lives of Americans thousands of miles from Wall Street whose pensions are invested in them.

— Hedge funds “are a critical investment tool, particularly for the pensions, endowments, and foundations that rely on them to deliver returns in all market conditions,” the trade group’s President Bryan Corbett said in a statement. “Through this campaign, we hope to increase understanding of hedge funds and demonstrate the importance the alternative investment industry has in the lives of everyday Americans.”

MUTUAL INSURERS TAP NEW HEAD: The National Association of Mutual Insurance Companies has tapped Neil Alldredge to be the trade group’s next president and chief executive. Alldredge serves as the association’s senior vice president of corporate affairs, and previously headed up the group’s state government and regulatory affairs operations. He’ll take over in July for current CEO Charles Chamness , who has led the group since 2003 but delayed his retirement by a year because of the pandemic.

TECH CRACKDOWN SURVIVES THE NIGHT: For those of you who, like your host, did not pull an all-nighter to catch the House Judiciary Committee’s markup of a slate of antitrust bills whacking some of the nation’s largest tech companies, POLITICO’s Cristiano Lima, Leah Nylen and Emily Birnbaum have us covered with what we missed. The panel “voted in the wee hours Thursday to block the hugest tech companies from buying their competitors and disadvantaging their rivals — part of a series of bipartisan moves, stretching overnight toward dawn, aimed at hobbling Silicon Valley’s reigning powers. Still to come later Thursday is a vote on the panel's starkest proposal: a bill that could make it easier to break up tech giants like Google and Facebook.”

— “The most notable pockets of resistance during Wednesday’s and Thursday's 19-plus-hours-and-counting markup came from lawmakers from California, the home base of Google, Facebook and Apple .” Just before 2 a.m. the committee approved one of “the most controversial bills,” one of which “would prohibit the biggest tech platforms from acquiring potential rivals” and is “aimed at preventing the kinds of deals in which Facebook bought the popular photo-sharing app Instagram and Google acquired the wearables company Fitbit.

— “About 5 a.m., the committee voted to bar platforms such as Apple and Amazon from giving their own products unfair advantages over rivals. Then it took a break, scheduling a 11 a.m. debate on one final bill: a measure that would give the Justice Department and the Federal Trade Commission more leeway to sue to break up the biggest tech platforms. … Before they could even get to those, however, the committee spent seven hours debating a bill that would make it easier for users to transfer their data from one tech platform to another.”

 

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PROBABLY JUST THERE TO SEE THE SIGHTS?: “A growing group of Republicans who could run for president in 2024 are making their way to New York to meet with lucrative donors,” CNBC’s Brian Schwartz reports. “Potential contenders who either have or are set to gather with donors in the Big Apple include former Secretary of State Mike Pompeo, Sens. Tim Scott and Marco Rubio and Florida Gov. Ron DeSantis , according to people briefed on the matter and invitations to fundraising events.” Pompeo is “‘basically already running for the presidency,' said one of the people familiar with Pompeo’s New York meetings,” which have ramped up the most since last year’s election.

 

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KNOWING STEVE RICCHETTI: “The effectiveness of Ricchetti’s shuttle diplomacy on Capitol Hill could determine whether many of Biden’s key domestic priorities become law, potentially shaping the 2022 and 2024 elections,” The Washington Post’s Jeff Stein and Tyler Pager write in a profile of Biden’s longtime aide and senior counselor, and a onetime lobbyist. “Ricchetti was among the White House officials on Capitol Hill on Wednesday night securing the ‘framework’ of an infrastructure deal with Senate Democrats and Republicans. Later in the evening, Ricchetti was among White House officials briefing top Democratic leaders about the next steps.”

Ricchetti, who Stein and Pager note is “one of the few aides who has Oval Office walk-in privileges,” possesses a “battle-tested willingness to stand by” the president that “helps explain his current preeminence. In 2012, the then-vice president fought successfully to make Ricchetti his counselor, a move criticized at the time as exploiting a loophole in the Obama administration’s rules on hiring lobbyists. Ricchetti has repaid that decision with close to a decade of loyal service. He stuck by Biden through the political wilderness, helping him set up his life after the vice presidency and crafting his successful 2020 presidential primary strategy.”

— Now, his “expansive network is a key asset to Biden … as he tries to figure out what kind of trillion-dollar infrastructure package may be able to pass Congress amid steep divisions in the Democratic caucus. But some critics say he is out of touch with the current moment in American politics and the needs of the country.”

HAMILTON PLACE SELLS TO PRIVATE EQUITY FIRM: Hamilton Place Strategies , which was founded by Bush 43 alumni and became one of D.C.'s most innovative public-affairs firms, has sold a majority stake to” Charlotte private equity firm Falfurrias Capital Partners, AxiosMike Allen reports. The firm, founded by Bush aides Tony Fratto, Matt McDonald and Stuart Siciliano but which has since added Democrats, will “now offer services in partnership with an earlier FCP acquisition in Washington — Ballast Research, formerly part of National Journal. FCP senior adviser Beth Comstock will sit on the new entity's board.”

SPOTTED at the Kazakh Embassy’s reception last night welcoming Ambassador Yerzhan Ashikbayev to D.C., per a PI tipster: Reps. Joe Wilson (R-S.C.) and Doug Lamborn (R-Colo.), former Rep. Albert Wynn, Greenberg Traurig’s Bob Sherman, ExxonMobil’s Alice Wells, MLC Strategies’ Mignon Clyburn, Doug Coutts, Jonathan Lowe, Phil Bednarczyk, State’s Rachel Sauer and RJI Capital’s Calvin Humphrey.

 

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Jobs Report

Ryan Flynn is now an account manager with Trident DMG. He was most recently deputy press secretary for Sen. Gary Peters (D-Mich.).

— The Federation of American Hospitals added Tilithia McBride as vice president of quality and Abby Kaericher as vice president for legislation and associate general counsel. They promoted Jonathan Jagoda to senior vice president of legislative affairs.

— Silicon Valley venture capital firm Andreessen Horowitz has added Tomicah Tillemann as global head of policy for a newly announced crypto fund, along with Brent McIntosh as an advisory partner. Tillemann was most recently at New America and is a Biden, State Department, Global Blockchain Business Council and World Bank alum. McIntosh most recently served as under secretary of the Treasury for International Affairs.

Mary Cronin is now vice president of government affairs at 6K. She most recently has been founder and CEO of Strategy Hub LLC.

New Joint Fundraisers

Team Raja Victory Fund (Rep. Raja Krishnamoorthi, DCCC, Reviving American Jobs Again PAC)

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New PACs

None.

NEW LOBBYING REGISTRATIONS

Avenue Solutions: Oak Street Health Mso, LLC
Clark Hill, Plc: The Century Foundation
Cypress Advocacy, LLC: Abir
Cypress Advocacy, LLC: Poulton Associates, LLC
Dc Legislative And Regulatory Services, Inc.: Hylife
Flagship Government Relations, Inc.: Technetics Group Daytona, Inc.
G2G Consulting: American Type Culture Collection (Atcc)
G2G Consulting: Cefaly
G2G Consulting: Focused Ultrasound Foundation
G2G Consulting: Jennings Center For Older Adults
G2G Consulting: Past Foundation
Holland & Knight LLP: Infinium Operations, LLC
Holland & Knight LLP: Lynas Rare Earths Ltd.
Holland & Knight LLP: Lynas USa LLC
Holland & Knight LLP: Waterloo Greenway Conservancy
K&L Gates LLP: Farmers Conservation Alliance
Lsn Partners, LLC: Badger Meter
Lsn Partners, LLC: Merit International, Inc. Dba Merit
Mcguirewoods Consulting (A Subsidiary Of Mcguirewoods LLP): Certify Global Inc.
Mcguirewoods Consulting (A Subsidiary Of Mcguirewoods LLP): Trinity Print And Media, LLC
Ml Strategies, LLC: College Bound Dorchester
Mr. Landon Fulmer: Orange Ev LLC
Pioneer Public Affairs: Wedonthavetime Ab
Porterfield, Fettig & Sears, LLC: National Apartment Association
Providence Strategies, LLC: Md|Dc Credit Union Association
Providence Strategies, LLC: Underwood And Associates
Squire Patton Boggs: City Of Westminster, Colorado
The Raben Group: Braven
Waxman Strategies: Windward Fund

NEW LOBBYING TERMINATIONS

G2G Consulting: Invitae Corporation

 

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