Former Senator, Vice Presidential Candidate To P.E. Firm

Jan 3 2014 | 1:24pm ET

Former Sen. Joseph Lieberman has joined private-equity firm Victory Park Capital, becoming the latest Washington power broker to move into finance.

Lieberman left the Senate after four terms a year ago and joined law firm Kasowitz Benson Torres & Friedman in the summer. He will continue to work for Kasowitz while serving as chairman of Victory Park's executive board.

"While in the U.S. Senate, I fought for policies that would allow small businesses to thrive," Lieberman, who was the Democratic nominee for vice president in 2000, said. "I look forward to a long-term partnership with Victory Park Capital that will position the firm for further growth."

Chicago-based Victory Park was co-founded by Brendan Carroll, who worked for Lieberman on Capitol Hill during the mid-1990s and who took a leave from his job at an investment bank to join Lieberman's vice-presidential campaign.

"Obviously, the personal relationship helped," Carroll told The New York Times. "But he did a lot of his own work to determine that this was something he wanted to do."

Lieberman's move to Victory Park follows former Treasury Secretary Timothy Geithner's to Warburg Pincus in November.

Lieberman elected against seeking a fifth term in 2012, following his defeat for renomination in the 2006 Democratic primary by an anti-war candidate. Lieberman, a prominent supporter of President George W. Bush's policies in Afghanistan and Iraq, went on to defeat his primary opponent, Ned Lamont, in the general election that year.


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