Former Treasury Secretary Jacob Lew is joining a midmarket New York private-equity firm, adding his name to the long list of high-ranking government officials entering the sector in recent years.
Lew, who ran the Treasury during President Barack Obama’s second term, will become a partner at Lindsay Goldberg LLC, firm executives told The Wall Street Journal. The company has about $15 billion in capital and specializes in investing in family and founder-run businesses.
The move marks a return to finance for Lew, who worked for about two years at Citigroup Inc. C, +0.79% , in between cabinet-level stints in the Clinton and Obama administrations. Lew’s predecessor as Treasury secretary, Timothy Geithner, became president of private-equity firm Warburg Pincus LLC shortly after he left the government in 2013.
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