Obama Asks VC and Buyout Pros for Advice
Some private equity pros might have worried that they'd be scapegoated by the Obama Administration, but so far it seems to be quite the opposite. In fact, some of them are being taken into the fold as confidants. President Obama today signed an executive order establishing an Economic Recovery Advisory Board, which is designed to provide independent advice outside of the Beltway bubble. It's kind of like an economic version of the Foreign Intelligence Advisory Board, which was established by Eisenhower. Among the 15 board members are John Doerr, a venture capitalist with Kleiner Perkins, and Mark Gallogly, a former Blackstone Group pro who now runs private equity firm Centerbridge Capital. Even the limited partner community is (sort of) represented, by Yale chief investment officer David Swensen.
