Barack Obama’s top individual fundraiser, a former technology executive who collected millions of dollars for the president, is seeking as much as $1 billion for a private-equity fund that will invest in infrastructure and renewable energy, according to a person with knowledge of the matter.Frank White Jr. has teamed up with two other Obama backers, Shomik Dutta and two-time Grammy Award-winning rapper Prakazrel Michel, to establish a Washington-based money-management firm called DuSable Capital Management LLC, according to a regulatory filing. DuSable plans to raise $500 million to $1 billion, said the person, who requested anonymity because the details are private.
Watch to see how the Obama team dishes out infrastructure and renewable energy franchises to friends. It's the game in Washington, evidenced by DuSable's Senior Advisor fresh from a Chief of Staff job with the Department of Energy.
President George Bush had Robert L. Johnson, III. President Barack Obama has Frank White, Jr. I've said for years Red and Blue love PEU. It's disturbing that they're proliferating in The Carlyle Group's backyard. D.C. is a strategic place to tap Uncle Sam's largess.