US Treasury Secretary Steve Mnuchin speaks at a press conference to announce the reinstatement of sanctions against Iran by the Trump administration, at the US Department of State in Washington, United States, on 21 September 2020. Patrick Semansky / Pool via REUTERS

September 20 (Reuters) – Steve Mnuchin, a former Goldman Sachs (GS.N) executive who served as secretary of the US Treasury during the Trump administration, raised $ 2.5 billion from his capital firm -investment, according to a Bloomberg News article published Monday.

Most of the funds raised for Washington DC-based Liberty Strategic Capital came from Middle Eastern sovereign wealth funds, including the Saudi Arabia Public Investment Fund, the report added, citing people familiar with the matter.

Liberty Strategic, formed this year by Mnuchin, focuses on investing in technology, financial services, fintech companies, and businesses involved in creating new forms of content.

The private equity firm led a $ 275 million funding round in cybersecurity firm Cybereason in July.

Mnuchin has started hiring staff for an investment fund that would seek support from Persian Gulf state funds, the Washington Post first reported in February, citing people familiar with the plans.

Prior to joining the Trump administration, Mnuchin spent 17 years at Goldman Sachs before leaving in 2002, when he started Dune Capital Management.

As a Hollywood financier, he has also invested in films such as “Avatar”, “Mad Max: Fury Road” and “Suicide Squad”.

Report by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli

Our Standards: Thomson Reuters Trust Principles.

Leave a Reply

Your email address will not be published.