Former Treasury Secretary Steven Mnuchin has just sent the clearest signal yet that he likely wouldn’t rejoin a potential second Trump Administration (despite being one of the more successful cabinet members) via reports that the ex-Goldmanite will raise $2.5 billion for a new private equity fund.
Mnuchin isn’t the only industry giant who is launching a new PE fund amid an explosion of dealmaking spurred in part by the Fed’s policy response to the pandemic. Back in July, former Apollo founder Josh Harris announced fundraising plans for his own billion-dollar fund.
Absolutely amazing SCOOP from @HeatherPerlberg and @sonalibasak:
*STEVEN MNUCHIN RAISES $2.5 BILLION FOR PRIVATE EQUITY FUND
"Most of the money is from sovereign wealth funds in the Middle East, including Saudi Arabia’s Public Investment Fund." more on @TheTerminal
— Brian Chappatta (@BChappatta) September 20, 2021