DuSable Capital Management, a new private equity firm founded by former members of President Barack Obama’s re-election campaign, has passed the halfway point for its first private equity fund.
The Washington DC-based firm has raised about $505 million toward a $1 billion target for the Yurus Private Equity Fund I, according to documents filed with the US Securities and Exchange Commission. The fund will focus on making control investments in the energy and infrastructure industries globally.
DuSable is led by founder and chief executive officer Frank White, the former national vice-chair of President Obama’s 2012 re-election campaign and co-chair for his 2013 inauguration committee. White also founded Advanced Concepts, which provides engineering and information technology support services to the US Federal Government.
DuSable co-founder and managing director Shomick Dutta was the national finance consultant for the re-election campaign and previously worked in investment banking at Morgan Stanley and at hedge fund The Rock Creek Group. He was also a special assistant in President Obama’s White House and worked on his first election campaign.
DuSable’s team also includes COO, CCO and CFO John Guthrie, a former COO of a private equity and wealth management company and senior advisor William Lee, the president and co-founder of Bright Plain Renewable Energy, an operating company focused on solar power projects. DuSable advisor Brandon Hurlbut was most recently the chief of staff to the US Department of Energy and deputy director of cabinet affairs at the White House.