Thursday, January 28, 2010

White House Entertains PEU's

Private equity underwriters (PEU's) salivate over health care and infrastructure opportunities. Those who don't have targeted funds are scrambling to put money in these sectors. The Obama White House entertained many big PEU names. Their visitor list includes:

David Rubenstein-Carlyle Group
Steve Schwarzman-Blackstone Group

Jonathan Lavine-Bain Capital

James Johnson-Perseus LLC
Richard Holbrooke-Perseus LLC
Al Gore-Kleiner Perkins Caufield & Byers, Generation Investment Management
Bill Clinton-Yucaipa
Tom Daschle-InterMedia Advisers, Apollo Group
Roger Altman-Evercore Partners

Leonard Schaeffer-TPG

Thomas Steyer-Farallon Capital Management

William Kennard-Carlyle Group

Colin Powell-Kleiner Perkins Caufield & Byers

John Rogers-Ariel Capital Management
Steve Rattner-Quadrangle Group
Jeffrey Goldstein-Hellman & Friedman
Bono-Elevation Partners
Glenn Hutchins-SilverLake

The following CEO's visited. Each has a private equity division within their firm:

Lloyd Blankfein-Goldman Sachs
Jamie Dimon-JP Morgan

John Mack-Morgan Stanley

Ken Lewis-Bank of America/Merrill Lynch

Robert Wolf-UBS

Robert Diamond-Barclay's

Vikram Pandit-CitiGroup
Two were present or past board members:

Robert Rubin-CitiGroup
John Rogers--Goldman Sachs

Many were hosted by White House Health Czar:

Nancy-Ann DeParle-CCMP Capital Advisers

Infrastructure opportunities brought Felix Rohatyn out of retirement and back to Lazard, where he'll help CEO Kenneth M. Jacobs. The man who saved New York City can save America from its crumbling infrastructure, while making a ton of money.

Perella Weinberg Partners, Obama's Chrysler "speculators," announced investments in health care and transportation.

Given the White House visitor list is less than comprehensive and inspection is not a robust system for achieving quality, how many uncited PEU's graced the White House doors? We know they are most welcome.

Update: President Obama appointed a PEU as head of the Transportation Safety Administration. General Robert Harding partnered with GTCR Golder Rauner when he sold his security firm, Harding Security Associates. GTCR has its own dark history, having traded nightmares with The Carlyle Group. They exchanged rendition flyer Landmark Aviation and Katrina deathtrap LifeCare Hospitals.

Update: Tim Geithner's top advisors have PEU backgrounds. He's now lobbying for PEU's and hedge funds with the European Union.