A fund affiliated with hedge fund billionaire George Soros and one linked to former U.S. Secretary of State Madeleine Albright are buying a controlling stake in APR Energy, a company that mainly supplies temporary power in developing countries, reports Reuters. The controlling stake will cost $250 million.
According to Reuters, APR Energy, dominates the market for international temporary power generation services along with larger listed rival Aggreko Plc.
Soros is, of course, well known to those monitoring the global political scene. For most, Albright is known for being Secretary of State during the Clinton Administration. Few realize that she has leveraged her role as Secretary of State into that of a junior oligarch. Her firm, Albright Capital Management LLC, is an advisory firm that manages private funds. She also controls Albright Group LLC, the international consulting business that Albright formed in Washington after leaving the government in 2001.