Former Secretary of the Treasury Steven Mnuchin plans on launching a new investment fund with money raised from Persian Gulf backers, the Washington Post reports.
The fund, which has started to hire staff for its Washington, DC-based operation, will concentrate on investments in the technology and entertainment sectors. Mnuchin is apparently seeking money from sovereign funds controlled by United Arab Emirates, Kuwait, Qatar and Saudi Arabia oligarchs.
Mnuchin worked as an investment banker and Hollywood producer prior to joining the Trump Administration which regularly demeaned “the Hollywood elites.”