PE Pro Integral To TARP Oversight Report
A Congressional oversight committee on Friday issued a report that was harshly critical of how Hank Paulson & Co. spent the initial monies, arguing that they only got around 60 cents worth of value for every dollar spent. Most of the media reports quote Elizabeth Warren, a Harvard professor who chaired the study. What they fail to note, however, is that a private equity pro was an integral part of actually valuing the purchased assets. That pro was Adam Blumenthal, a co-founding managing partner of Blue Wolf Capital Management and former first deputy comptroller of the City of New York. Blumenthal was recruited late last year by David Silvers, associate general council of the AFL-CIO (Blue Wolf has tight union relationships). He says that the original task seemed daunting
