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Firm Tied to Team Biden Looks to Cash In on COVID Response

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An investment firm with deep ties to at least one and possibly more members of Joe Biden’s would-be cabinet views the government’s response to the coronavirus as a potential money-making opportunity, according to filings with the Security Exchange Commission.

Pine Island Capital Partners boasts on its website of its “leadership, investing, and networking expertise of our partners.” As the Daily Poster and the New York Times recently reported, its list of “D.C. Partners” includes Tony Blinken, Biden’s nominee for secretary of state, who has been on leave from the firm since joining the Biden campaign in August. Also on the list are two leading candidates to run Biden’s Pentagon, Michele Flournoy and retired Gen. Lloyd Austin.

All three Democratic foreign policy heavyweights own equity stakes in Pine Island, but “would divest themselves of any investment in Pine Island if confirmed for a position in the administration,” according to a company spokesperson. A source familiar with the situation confirmed to The Daily Beast that Blinken plans to divest from any Pine Island holdings should the Senate approve his nomination.

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