Trump’s former treasury secretary expected to launch investment fund, seeking backing of Persian Gulf state funds

Steven Mnuchin, who was treasury secretary in the Trump administration, is planning to start an investment fund that is expected to raise money from sovereign wealth funds in the Persian Gulf region and other investors, two people familiar with the project said.

The fund, based in Washington, would focus on areas including financial technology and entertainment, among other potential sectors, the people said. Mnuchin, who worked as a Wall Street executive and film producer before joining the Trump administration, has begun hiring for the endeavor. The people familiar with the matter spoke on the condition of anonymity to discuss planning that has not been made public.

The United Arab Emirates, Kuwait, Qatar and Saudi Arabia control some of the region’s largest investment funds, according to the Sovereign Wealth Fund Institute, which tracks these types of funds.

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Can somebody say......... Tel Aviv?