New York (HedgeCo.net) – Former President Bill Clinton is reportedly teaming up with two of his former aides, Declan Kelly and Douglas Band, starting a private equity fund and global hedge fund consulting company. Also said to be involved is former British PM Tony Blair.
The State has already approved Clinton’s involvement in the private equity fund Teneo Capital, The Huffingtom Post reports:
“President Clinton is involved purely in an advisory capacity, and his compensation is confidential,” Matt McKenna, a Clinton spokesman, told the Huffingtom Post. Kelly confirmed that Clinton will be compensated but declined to go into details.
The new venture is to be based in Northern Ireland and “Seems well-poised to build on its access to and knowledge of Irish government.” The paper reports.
“During a summit at Ireland’s Dublin Castle in October, the former president announced plans to hold a Global Irish Economic Forum in New York in 2012, to be sponsored by Teneo Capital. Gathered at the Dublin summit were Bono, Irish Prime Minister Enda Kenny and Irish Foreign Minister Eamon Gilmore.
Kelly, Teneo Capital’s cofounder, was named in 2009 by Secretary of State Clinton to be special economic envoy to Northern Ireland. Kelly had previously founded another hedge fund, Financial Dynamics, which he sold in 2006 to the company now known as FTI Consulting.
“We don’t have an equity fund, and we don’t have a hedge fund. We’re looking to establish one, but we haven’t done it yet,” Kelly said.
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