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IPFS News Link • Congress-Congressmen

Behind the scenes, private equity angles for a piece of stimulus

• https://www.sfgate.com

The rush of behind-the-scenes jockeying by the powerful financial sector has raised the prospect that an industry often known for slashing workforces could tap into the program designed as a life raft for small businesses.

The intense appetite among private-equity firms to get a bigger piece of the stimulus windfall has put a spotlight on the numerous ties between wealthy industry figures and Trump and his family - raising questions about potential conflicts of interest as the Treasury Department writes the rules for handing out billions of dollars in loans and grants.

One significant connection to the industry is through Kushner, a top White House official whose family real estate company received millions in loans from Apollo Global Management, a New York-based private equity firm.

Two weeks ago, a partner at Apollo sent a personal email to Kushner suggesting steps the administration should take to ensure that companies with private-equity investment get access to stimulus loan programs, according to two people briefed on the correspondence, who spoke on the condition of anonymity to describe the private communication.


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