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Geithner Gets JPMorgan Credit Line to Invest With Warburg Pincus

  • Warburg, management pledged $800 million for $12 billion fund
  • Credit lines can help executives meet such commitments
Warburg Pincus President Timothy Geithner.

Warburg Pincus President Timothy Geithner.

Photographer: Patrick T. Fallon/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.