Jeb Bush started private-equity firm, raising questions about '16 intentions
The following story is from Bloomberg News:
As other Republicans travel the country laying the groundwork for 2016 presidential campaigns, former Florida Governor Jeb Bush is raising private-equity funds for oil and gas ventures.
Bush, 61, whose family made much of its fortune in Texas oil, has teamed with former Credit Suisse Group AG and Lehman Brothers Holdings Inc. bankers to create an investment firm based in Coral Gables, Florida, according to regulatory filings disclosed last month.
In April, his firm Britton Hill Holdings LLC used backing from a Chinese conglomerate to acquire a stake in a Stamford, Connecticut, shipping startup seeking to capitalize on surging Asian demand for U.S. shale oil and gas.
… Britton Hill was set up in May 2013 but Bush’s role as chairman and part owner wasn’t publicly available information until last month when the firm registered as an exempt adviser with the U.S. Securities and Exchange Commission. Firms only have to do this once they manage more than $100 million.
Filings describe Britton Hill as a closely held advisory and investment firm that focuses on the energy, infrastructure, logistics and environmental services sectors. Its first investments have been tied to the exploitation of shale oil and gas in the U.S., a booming area for private equity including some of the largest companies such as Apollo Global Management LLC, Carlyle Group LP (CG) and KKR & Co. They’re tapping into advances in hydraulic fracturing that’s unlocking vast new sources of energy.
Full Bloomberg story here.