Well, at least Bain Capital will get some competition:
Over lunch in Manhattan several months ago, Brendan Carroll, a partner and co-founder of the private equity firm Victory Park Capital, had a proposition for his former boss, Joseph I. Lieberman, the former senator from Connecticut and onetime vice presidential candidate: Would Mr. Lieberman be interested in joining his firm?
Mr. Lieberman, who retired from the Senate last January after representing Connecticut in Washington for 24 years, was intrigued and eventually decided to join Victory Park as chairman of its executive board, the firm announced on Thursday.
“While in the U.S. Senate, I fought for policies that would allow small businesses to thrive,” Mr. Lieberman said in a statement. “I look forward to a long-term partnership with Victory Park Capital that will position the firm for continued growth.”
Nothing makes a small business thrive like being taken over by a private equity firm.
Everyone knows this.
Victory Park invests in mid-market companies across a range of industries, including oil and gas and airlines, and could benefit from Mr. Lieberman’s extensive regulatory expertise, Mr. Carroll said.
I hope Lieberman enjoys taking over distressed “midlevel” companies, collecting massive consulting fees, laying off their workforce and auctioning off the assets.
