DCT - Mick Mulvaney's New Fund Will Focus on an Investment Strategy He Says the Market Is Missing
If you follow politics, then you've probably heard of Mick Mulvaney, a key member of President Donald Trump's administration. Mulvaney ran the Office of Management and Budget from February 2017 to March 2020. During that time, he also served as acting director of Consumer Financial Protection Bureau (CFPB) and acting White House chief of staff. He left that last role in March, and is currently the U.S. special envoy to Northern Ireland.
But Mulvaney has also taken on a new role. He is partnering with Andrew Wessel, a previous portfolio manager at Sterling Capital Management who focuses on the financial sector, to launch a new financials-focused fund called Exegis Capital. On a recent S&P Global Street Talk podcast, Wessel described Exegis as a fund "looking to take advantage of changes in regulation and legislation impacting the financial services industry both long and short." Let's dig into this investment strategy.