ABC's This Week interviewed Admiral Mike Mullen this morning about Trump II's War of Choice on Iran. Yesterday, CNN's Michael Smerconish interviewed Admiral James Stavridis about the same topic. Neither network revealed their conflicts of interest from their private equity ties.
Admiral Mullen's C5 Capital is "tackling some of the biggest societal issues that corrode global security and disrupt peace." That sounds germane to the current outbreak of war.
C5 was founded by South African born Andre Pienaar who calls himself a "cybersecurity, space and energy expert and investor. He does not have the same name recognition as Elon Musk or Peter Thiel but he is politically connected.
Pienaar serves on the Advisory Board of the U.S. Institute of Peace which was renamed in December 2025 to the Donald J. Trump Institute of Peace. That board is currently under disruption like everything Trump II, private equity underwriters (PEU) and TechGods touch.
An SEC filing stated:
Admiral Michael Mullen, Ret. joined the Pine Island Capital Partners team in 2018.
Mullen was not alone in getting a free pass on his conflicts of interest. The Carlyle Group's Admiral James Stavridis got same.
Surely, Carlyle's global strategists are working overtime with the seismic remaking of industries and the globe, something they have had a hand in for decad
Thank heaven for the French. They may be the first to surrender in war, but they did not surrender to conflicted warriors. Their interview with General David Petraeus disclosed his PEU role with KKR and his numerous positions, one of which deals with the Middle East.
The PEU Admirals & Generals have returned to the airwaves, no longer afraid that Trump II might twist their words or whack heir firm in retaliation for anything less than "Trump is great, Trump is good and I thank him for our food."
It's risk taking time, everything, everywhere and all at once. Where are the sane minds in Congress and the Supremes? Many are retiring, so I hear. How many will end up on a PEU or TechGod payroll?
And how many PEU/TechGod candidates will emerge to replace them?
Politicians Red & Blue love PEU and their new TechGod brethren. Increasingly, more are one and for this many suffer needlessly.
Update 3-11-26: This morning CNN interviewed Brig. General Steven Anderson. I found he was Chief Growth Officer for Sallyport Global. Sallyport was acquired by Michael Baker which was acquired by Acuity International, which is an affiliate of PEU DC Capital Partners. Their Advisory Board is chock full of military brass:
Brig Gen. Anderson is now with the Bodwe Group. In 2025 Bodwe paired up their Native American non-gaming operations with a service disabled, veteran owned logistics company. .
The integration is so deep at this point, there may not be a PEU way out.
Update 3-17-26: Another PEU military retiree getting time on Fox News is Vice Admiral Kevin Donegan, Advisor for McNally Capital since August 2025.
McNally Capital has an equity stake in the Gaza aide provider (Safereach Solutions) that played a role in Israel's ramping up the misery index for Palestinians.
Update 3-28-26: Smerconish had Admiral James Stavridis on his show again this morning with no mention of his full time job at Carlyle (the fourth week in a row). The host went on to point out insiders profiting from Polymarket bets but missed his guest's job of profiting from political connections and influencing global governments.
Update 3-30-26: The Carlyle Group is returning to its roots and offering a new defense fund (Bloomberg)
Update 4-1-26: Lt. General Keith Kellogg joined the Board of Advisors for Powerus, the Trump boys new drone boondoggle.
Update 4-6-26: Persian Gulf countries need protection and the Trump boys have a new company (Powerus) that sells same (via drones). What incredible timing!
“These countries are under enormous pressure to buy from the sons of the president so he will do what they want,” said Richard Painter, a former chief White House ethics lawyer under President George W. Bush. “This is going to be the first family of a president to make a lot of money off war — a war he didn’t get the consent of Congress for.”
CNN's Michael Smerconish interviewed Admiral James Stavridis yet again this past weekend with no mention of his day job. Stavridis recently stated:
“We’re a month into it,” Stavridis said of the war against Iran. “How’s it going? It’s not going well, in my view.”This is the job that CNN never mentions:
Vice Chairman - with a focus on international activities and global strategy- at The Carlyle Group
The Japan Times mentioned his employment when they ran the Admiral's opinion piece about European allies capabilities to assist in the Strait of Hormuz.
Update 4-7-26: Nexstar and The Hill ran a story on Admiral Stavridis re: Iran and saw no reason to disclose his full time job at Carlyle.
