Former Treasury secretary Mnuchin raises $2.5 bln for fund – Bloomberg News
U.S. Treasury Secretary Steve Mnuchin speaks throughout a information convention to announce the Trump administration’s restoration of sanctions on Iran, on the U.S. State Division in Washington, U.S., September 21, 2020. Patrick Semansky/Pool by way of REUTERS
Sept 20 (Reuters) – Steve Mnuchin, a former Goldman Sachs government who served as U.S. Treasury secretary through the Trump administration, has raised $2.5 billion at his personal fairness agency, in response to a on Monday.
A lot of the cash raised for Washington D.C.-based Liberty Strategic Capital got here from sovereign wealth funds within the Center East, together with Saudi Arabia’s Public Funding Fund, the report added, citing individuals acquainted with the matter.
Liberty Strategic, fashioned this yr by Mnuchin, is concentrated on investing in expertise, monetary providers, fintech firms and companies which are concerned in creating new types of content material.
The personal fairness agency led a $275 million funding spherical in cybersecurity firm Cybereason in July.
Mnuchin began hiring workers for an funding fund that may search backing from Persian Gulf State funds, February, citing individuals acquainted with the plans.
Previous to becoming a member of Trump’s administration, Mnuchin spent 17 years at Goldman Sachs earlier than leaving in 2002, when he launched Dune Capital Administration.
As a Hollywood financier, he additionally made investments in films corresponding to “Avatar”, “Mad Max: Fury Street” and “Suicide Squad”.
Reporting by Sohini Podder in Bengaluru; Modifying by Shinjini Ganguli
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