Cerberus CEO Feinberg Said To Be Exploring White House Post

Feb 3 2017 | 12:09am ET

Cerberus Capital’s Steve Feinberg is reportedly in the running to join President Donald Trump’s administration in a senior capacity. 

The billionaire private equity executive would join other wealthy Wall Street titans, such as Treasury Secretary nominee Steve Mnuchin and Commerce Secretary Wilbur Ross, in Trump’s inner circle.

News of Feinberg’s willingness to take a role in Washington D.C. was revealed in an investor letter Thursday, according to Bloomberg. 

Details about what Feinberg’s role might be remain unclear. Nearly two weeks after the inauguration, Trump’s new administration is still fleshing out various roles and responsibilities amid reports of infighting among the new president's advisors. 

Feinberg was a supporter of Trump’s during the campaign, and was named to Trump’s economic advisory council last August. 

Cerberus has a succession plan in place should Feinberg join Trump’s senior team, the investor letter said, although what that entails was not disclosed other than it would result in “minimal” changes to the firm. Given’s Cerberus’ billions in private equity investments around the world, Feinberg would likely be subject to significant vetting, disclosure and divestment requirements should a role be forthcoming. 

Cerberus is no stranger to government involvement, as former Vice President Dan Quale chairs the company’s global investment unit and former U.S. Treasury Secretary John Snow is chairman of the company’s board. 

New York-based Cerberus Capital Management was co-founded by Feinberg in 1992 along with William Richter. The company has become one of the world's leading private investment firms, with more than $30 billion under management invested across a wide range of private equity, real estate, private lending and distressed securities.


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