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September 20 (Reuters) – Steve Mnuchin, a Goldman Sachs alumnus (GS.N) executive who served as U.S. Treasury secretary during the Trump administration, raised $ 2.5 billion in his private equity firm, according to a Bloomberg News Report 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 began hiring staff for an investment fund that would seek support from Persian Gulf state funds, the Washington Post first reported inFebruary, 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.
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