Tuesday, February 24, 2009

Pentagon Chief Weapons Buyer Ashton Carter: PEU

President Obama's new Pentagon weapons purchaser is a private equity underwriter (PEU). Ashton Carter is a Senior Partner with Global Technology Partners, LLC, an investment firm specializing in defense firms. GTP held interests in defense firms during Carter's tenure. Pension & Investments reported:

Behrman Capital sold its majority stake in Condor Systems for $134 million to an investor group led by Global Technology Partners and DLJ Merchant Banking Partners II. Behrman will now become an investor in the privately held defense electronics firm.

Condor Systems made false statements and incurred a $1 million fine for trying to sell defense electronics to Sweden. Carter was with GTP during this fiasco.