The K Street firm Subject Matter, one of Washington’s top-grossing lobbying shops, recently announced a deal with a private equity outfit from Los Angeles, Coral Tree Partners.
Though the firms didn’t disclose the specifics, they billed the arrangement as a partnership that Subject Matter founder Steve Elmendorf said would fund expansion into new services and beyond Washington.
It’s the latest in a string of similar deals as the influence sector seeks out investment dollars, often to hire up in areas such as polling, public relations, digital and grassroots organizing and state-level lobbying. Some policy and lobbying shops have inked deals with private equity firms, and more are likely on the way. In another twist for the industry, a group of prominent Beltway firms banded together and went public on a stock exchange in London late last year.
