Trump Treasury Secretary Mnuchin Raises $2.5 Billion Fund (1)

Steven Mnuchin has started his next act with a multibillion-dollar fund for private equity investments.

Mnuchin, a movie producer and financier before being tapped as U.S. Treasury secretary for the Trump administration, has raised about $2.5 billion at his firm Liberty Strategic Capital, according to people familiar with the matter. Most of the money is from sovereign wealth funds in the Middle East, including Saudi Arabia’s Public Investment Fund, said the people, who asked not to be named because the details are private.

Liberty was founded this year with a focus on technology, financial services and fintech, as well as ...