Washington, DC-based private equity firm DuSable Capital Management is seeking to raise up to $1bn for its inaugural private equity fund, Reuters has reported.
The firm, which was co-founded by Frank White Jr, national vice-chair of US President Barack Obama’s 2012 re-election campaign, will focus on global energy and infrastructure investments.
Fellow co-founder Shomik Dutta previously served as the national finance consultant to President Obama’s re-election campaign, as well as an investment banking at Morgan Stanley and hedge fund Rock Creek Group.
A filing also names Prakazrel Michel, a member of hip hop group Fugees, as a principal owner.
President and co-founder of solar power developer Bright Plain Renewable Energy William Lee is also named as a senior adviser, while former chief of staff to the US Department of Energy Brandon Hurlbut is listed as an advisor.
The fund is seeking to raise between $500m and $1bn, with a minimum investment size of $5m.
According to the filing, the fund’s strategy will see it target equity and debt investments in companies involved in the “production, storage, and transportation” of alternative energy in the US and in emerging markets, including Malaysia, Mexico, Indonesia, Burma, Brazil, Russia, and India. It will also seek to invest in infrastructure opportunities in the energy, transportation and telecommunications spaces.
The filing said that White will look to utilise his “network, contacts and reputation” to source dealflow. It said, “It is anticipated that Mr White’s contacts within the private sector, the US government and certain foreign governments will also provide the Fund with a competitive advantage with respect to addressing domestic and foreign regulatory issues and identifying and engaging top management personnel to operate the Fund’s portfolio companies.”
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