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Joe Aston

Stonepeak lures Steve Ciobo to New York

Having retired from his ultra-safe Gold Coast seat of Moncrieff at the May 2019 federal election, former trade minister Steve Ciobo was last sighted advising Bain Capital on its successful $3.5 billion bid for Virgin Australia. Not even a decade-long internecine psychodrama for the Liberal leadership can prepare someone for working with Jayne Hrdlicka.

And it seems Ciobo got a taste for the icy-blooded ways of private equity. He has landed a senior role at Stonepeak Infrastructure Partners, the US$25 billion ($35.6 billion) PE firm spun out of Blackstone in 2011 by Macquarie alumni Mike Dorrell and Trent Vichie.

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Joe Aston is the founder of Rampart and the best-selling author of The Chairman’s Lounge: The inside story of how Qantas sold us out. From 2012 to 2023, Joe helmed The Australian Financial Review’s Rear Window column. Email Joe at hello@rampart.news

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    Original URL: https://www.afr.com/rear-window/stonepeak-lures-steve-ciobo-to-new-york-20200927-p55zl9