Wondering what the deal is with Booz Allen Hamilton, the defense contractor for which NSA whistle-blower Edward Snowden worked? Well, for starters, since 2008, it’s been owned by global investment firm the Carlyle Group, to which both the Bush and bin Laden families were connected, Forbes reports:
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In 2008, the Carlyle Group made a large $910 million investment to buy a majority stake in Booz Allen’s government consulting business.
Washington-based Carlyle, which has a long and successful history doing deals involving government contractors, has really made the Booz Allen deal work. The private equity firm has made $2 billion in realized and unrealized profits on the Booz Allen Hamilton deal so far. Its $910 million investment is now worth $3 billion.
There was a time when Carlyle’s ties to the government made the private equity giant a target of conspiracy theories, but the firm has worked hard and successfully to improve its image and limit its connections to the government.