“India Ambassador Pick Has Questionable Private Equity Ties” -Daily Beast

Daily Beast
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Summary: ” A private equity firm run till January by a top White House adviser is pouring money into Indian companies as President Donald Trump prepares to tap that exact same exact adviser to be the next US Ambassador to India. As Juster wades through the clearance process, for the post, private equity firm Warburg Pincus, just where Juster was a partner till January, is dramatically scaling up its investments in Indian companies, raising questions about potential financial conflicts if Juster is confirmed. But the firm’s dramatic scaling up of its Indian portfolio threatens to pit Washington’s top diplomat in New Delhi against ethics rules designed to limit the revolving door between the public, and private sectors—a revolving door through which Juster has passed in his moves from government to business and back into government. “Ken Juster has a strong résumé and, while I only held a meeting him half a dozen, or, accordingly times, I know of no reason he couldn’t wait on our country well as ambassador to such an important country as India,” Ross told the Washington Post, which first of all reported the news of the nomination on Wednesday. He listed eight of the firm’s Indian portfolio companies in a section of the form requiring disclosure of “clients, for whom you I personally provided more than $5,00 in services.” His involvement in the firm’s Indian investment activities is hardly a unexpected surprise given Juster’s past work, and extensive expertise in the country but it could might possibly post potential ethics issues. According to White House financial disclosure forms, Juster was I personally involved in Warburg’s work in India. “Obviously, there’s a question of, whether [Warburg’s increased investment in India] is related to the likelihood that Kenneth Juster, a foregoing partner, is going to be nominated as the U.S. Juster’s credentials to be the administration’s top Indian diplomat are stellar but they’ve also dovetailed with his subsequent work in the private sector. “The nature of the potential conflicts will depend, in part, on, whether he has any on going financial ties to the Warburg Pincus.” The White House didn’t respond to questions about potential ethics issues surrounding Juster’s new post. The White House confirmed on Wednesday that Kenneth Juster, a top deputy to National Economic Council director Gary Cohn, shall be nominated to the post in the next couple weeks, though maybe not prior to Indian prime minister Narendra Modi’s June 26 White House visit.”

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