About the ACIC
The American College of Investment Counsel was founded in November 1981 by a group of ten lawyers, from both private practice and financial institutions, specializing in the area of major institutional investment financing to provide a forum for the discussion of legal issues arising in this area and to provide educational programs on these issues for its members.
The original Board of Trustees of the College consisted of Willis McDonald, IV, of New York, President; Peter B. Trumbull of Hartford, President-Elect; Joel Martin Hartstone of Hartford, Secretary/Treasurer; Donal A. Kinney of Newark, Vice President; Gary G. Benanav of Hartford; George K. Fenn, Jr. of New York; Frank J. Mooney of Chicago; John F. Olson of Washington, D.C.; Susan K. Reiter of New York; and Cecil Wray, Jr. of New York.
The College was incorporated by a special act of the Connecticut Legislature in 1982 and the Purposes of the College are Summarized in Article First of its Charter.
The mission of the College is to bring together lawyers who devote a substantial amount of their time representing institutional investors in connection with their investment operations, to provide education with respect to legal issues and market practices affecting institutional investments and investors, to develop, where appropriate, guidelines and uniform documentation for transactions involving institutional investments and to build collegial relationships to allow for more efficient transactions and communications among its Fellows.
The College has historically focused on investments in non-public debt and equity securities, in particular those which involve a significant degree of reliance upon the general credit of the issuer or cash flows from specific projects or asset pools. The College recognizes that the operations and investments of institutional investors are varied and evolving. Consequently, the College’s focus includes the evolving broader scope of institutional investments and the complex issues involved.