George P. Bush, the son of Jeb Bush, rode through San Angelo last week on the campaign trail for Texas Land Commissioner. George P. was the cutest thing our Republican ladies have seen since ex-Mayor J.W. Lown. Besides George P.'s Red Team pedigree, he carries strong private equity underwriter (PEU) credentials.
George P. Bush is the founding partner of St. Augustine Capital Partners, LLC, an opportunistic, Texas-based partnership focused on principal investing and consulting services for small to middle- market transactions in the oil and gas industry. Prior to founding St. Augustine, Mr. Bush led the management of investor relations with Pennybacker Capital—a middle market private equity firm he co-founded in 2007. His responsibilities also included sourcing and providing analysis of potential investment opportunities.Yesterday George P. met with Senator Rand Paul, son of former Representative Ron Paul of Lake Jackson, Texas. George P.'s relations never warmed to Rand's father, preferring to keep him on the Red Team periphery.
Should George P. win Texas Land Commissioner he would administer state-owned lands and their rich mineral resources. This could be a boon to St. Augustine, the firm George P. founded.
As for elected officials dumping their private equity stakes, consider Obama's chief health reformer Nancy Ann Deparle. She never declared any private equity holdings, but received PEU distributions in her years serving the public.
Red and Blue love PEU.