Overview
Liberty is an investment adviser with its principal place of business in Washington, D.C., that
focuses on strategic investments in its target industries of technology, financials/financial
technology (“FinTech”) and new content platforms. Liberty’s investment activities are led by
Steven T. Mnuchin, who served as Secretary of the Treasury from 2017 to 2021.
Liberty is organized as a limited partnership under the laws of the State of Delaware and was
founded in 2021 by Secretary Steven T. Mnuchin, the principal owner of Liberty.
Liberty serves as an investment manager and provides discretionary advisory services to private
investment partnerships and co-investment vehicles which may be formed from time to time (each
a “Fund”). Liberty has formed and expects to form one or more entities to serve as the general
partner for certain of the entities comprising the Funds (collectively, or individually, as the context
may require, the “General Partner”).
In providing services to Funds, Liberty formulates each Fund’s investment objectives, directs and
manages the investment and reinvestment of the Fund’s assets, and provides reports to limited
partners of each Fund (the “Investors” or “Limited Partners”). Investment advice is provided
directly to each Fund and not individually to the Limited Partners
of those Funds. Liberty intends
to manage the assets of each Fund in accordance with the terms of each such Fund’s confidential
offering and/or private placement memoranda (a “Private Placement Memorandum”), limited
partnership agreement or shareholder agreement, and other governing documents applicable to such
Fund (collectively, the “Governing Fund Documents”).
To the extent permitted by the applicable Governing Fund Documents, Liberty may, from time to
time, offer co-investment opportunities in investments that a Fund has made or intends to make to
certain Investors, to Liberty’s related persons, and/or to third parties. Co-investment opportunities
will be offered at the sole discretion of the General Partner of the Fund, taking into account such
factors as it deems relevant, including, but not limited to, the size of the opportunity, the
sophistication of the prospective co-investor(s), and the prospective co-investor’s commitment to
participate in co-investments opportunities offered by Liberty. Co-investments will be made on such
terms as agreed to between Liberty and the participants in the co-investment, which may be
materially different from the terms applicable to Investors in the relevant Fund.
As of December 31, 2023, Liberty managed $2,808,083,351 on a discretionary basis and $0 on a
non-discretionary basis.