Geithner Gets JPMorgan Credit Line to Invest With Warburg Pincus

How nice for him.

Geithner speaking at the Center for American Progress. No doubt discussing the ins and outs of hedge fund economics.
Geithner speaking at the Center for American Progress. No doubt discussing the ins and outs of private equity economics.

(From Bloomberg)

Former U.S. Treasury Secretary Timothy Geithner is preparing to borrow from JPMorgan Chase & Co. to help fund his new career in private equity.

Geithner, 54, secured a credit line with JPMorgan, one of the largest banks he oversaw during the financial crisis, to finance personal investments in funds started by his current employer, Warburg Pincus, according to a filing with the New York Department of State. He is borrowing money to invest in a $12 billion private equity fund that the firm raised in November, its first main fund since he joined almost two years ago, a person familiar with the situation said.

Click here for the article.