The US government has called for private equity firm Patriarch Capital to provide information on its recent hire of former US Army Colonel Norbert Vergez, who previously led a unit which awarded a $186m helicopter contract to the firm.
Vergez, who retired from the army last year, rang the multibillion-dollar Pentagon unit which picked Patriarch portfolio company MD Helicopters to provide up to 54 vehicles for use in Afghanistan, the New York Times reported.
A statement from Patriarch founder and famous financier Lynn Tilton, pictured, said the firm was cooperating fully with the inquiry and that she was confident the hire was “squeaky clean”.
She added, “Our only fear is of any specter that the press might cast and not of any truth that an investigation will find.”
Vergez is currently a senior vice president at Patriarch focusing on aviation and aerospace investments.
Patriarch, which was founded by Tilton in 2000, manages 75 companies across 14 industry sectors with revenues in excess of $8bn.
It focuses on buying and rejuvenating undervalued American brands, and has restructured more than 150 companies in the past 13 years.
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