President Joe Biden nominated yet another private equity underwriter (PEU) to serve in his administration. His ambassador candidate for Israel is Jack Lew, managing partner for private equity firm Lindsay Goldberg LLC. Lew joined Lindsay Golberg in 2017.
The Senate is yet to act on this nomination. It remains to be seen if they will advance it in light of the horrific Hamas October 7 attack on Israel and Israel's declaration of war. The war is underway.
Fellow PEU David Petraeus (with KKR) called the terror attack "far worse than 9-11." The U.S. invaded Afghanistan and Iraq as a result of 9-11. Petraeus commanded troops in both of those wars.
If approved Jack Lew will be the latest Biden PEU appointment. His cabinet is chock full of PEUs.
Update 10-18-23: A Senate Committee is holding a confirmation hearing today on Lew's appointment.
Update 10-22-23: NyPo shared that Lew received over $14 million from his PEU work last year. Their piece noted Lew's role in preserving private equity's preferred "carried interest" taxation, which he has received over the last six years.
