Former Treasury Secretary Tim Geithner Is Moving Into Private Equity

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10. Tim Geithner to Join Leveraged Buyout Firm Warburg Pincus

http://www.bloomberg.com/news/2013-11-16/tim-geithner-to-join-leveraged-buyout-firm-warburg-pincus.html

Former Treasury Secretary Timothy Geithner will join private-equity firm Warburg Pincus LLC next year after 26 years in public service, the company said.

Geithner will become president at the New York-based buyout firm and start in March, according to a statement today from Warburg Pincus. Chip Kaye and Joe Landy, who have led the firm since 2000, adopted the titles co-chief executive officer earlier this year after being co-presidents.

Geithner, 52, is one of many former public officials to enter the private sector, where they typically receive higher pay and companies seek to draw on their relationships and past experience to find new business. Private-equity firm KKR & Co. (KKR) in May hired ex-CIA Director David Petraeus to run a division for public policy and economic research, and Blackstone Group LP (BX) the following month hired Wesley Clark, the former NATO Supreme Allied Commander in Europe, to advise on its energy investments.

Warburg Pincus, founded in 1966, oversees about $35 billion in assets and owns stakes in more than 125 companies. This year it agreed to sell luxury retailer Neiman Marcus Inc. to an investor group for $6 billion, and it sold eye-care company Bausch & Lomb Holdings Inc. to Valeant Pharmaceuticals International Inc. (VRX) in an $8.7 billion deal.