Former Treasury Secretary Steve Mnuchin
formed Liberty Strategic
Partners, a $2.5 billion private equity underwriter (PEU) The fund's initial investment
came in
Cybereason. Like every good PEU Liberty has a retired general on board.
Mnuchin
will join the Cybereason Board of Directors, and Liberty’s Senior
Advisor General Joseph F. Dunford (Ret.), who served as the 19th
Chairman of the Joint Chief of Staff (2015-2019), will join the
Cybereason Advisory Board.
General Dunford also serves on the board of Lockheed Martin Corporation.
The Saudi Public Investment Fund provided
a significant portion of Liberty's initial cash raise. Mnuchin should
ask Carlyle Group co-founder David Rubenstein about losing Middle East
investor money. Rubenstein had to mollify angry Kuwait investors after his "safe", 36 times levered mortgage backed securities fund, Carlyle Capital Corporation, imploded in spring 2008. Mnuchin could also look at how the Saudi's treated
journalist Jamal Khashoggi for insight into possible repercussions.
Founder Mnuchin hired a retired diplomat at Liberty Strategic Global, former U.S. Ambassador to Israel David Friedman. President Biden's Cabinet is chock full of PEUs. Biden's Defense and State Department chiefs worked for PEU Pine Island Capital.
Should Mnuchin become President he has a diplomat and general to draft back into public service, which for the last few decades turned into self service.
