Trump picks PE veteran as US ambassador to Japan

William Hagerty spent time at Trident Capital before co-founding his own firm 20 years ago.

President Donald Trump has nominated William Hagerty, managing director and co-founder of private equity firm Hagerty Peterson, as the next US ambassador to Japan, according to the White House.

Hagerty has been on a leave of absence from his firm since July, when he began serving as the director of presidential appointments for Trump's 2016 presidential transition team, according to the company's website. In that role, he was responsible for the planning and execution of the transition process.

Hagerty co-founded Chicago-based Hagerty Peterson in 1997, according to his LinkedIn account, although the firm's specific strategy and exact assets under management are both unclear.

Prior to starting the firm, he had worked at Trident Capital between 1993 and 1994 as a venture capital investor.

Hagerty began his career at the Boston Consulting Group in 1984, and in that capacity spent three years in Japan managing BCG's business with western clients throughout Japan and Asia.

Most recently, he served in the Tennessee governor's cabinet as trade and commerce secretary. During his tenure, the state led the nation in foreign direct investment, 60 percent of which came from Japan, according the White House's Thursday announcement.
Hagerty was not available for comment.