Blackstone Pro Joining Treasury Department

Private equity is about to get one of its own inside the Treasury Department.

peHUB has learned that Matthew Kabaker has resigned as a managing director with The Blackstone Group, in order to join Tim Geithner and company at 1500 Pennsylvania Ave. No word yet on what Kabaker’s official role or title will be, but his past experience with financial institutions would suggest involvement with TARP or a TARP-like program.

“We will miss him as a colleague and as a friend,” says Blackstone spokesman Peter Rose. “But we are very proud of his move into public service.”

Kabaker originally joined Blacksone in 1998, and served on the boards of portfolio companies Alliant Insurance, Ariel Re, TRW Automotive, FGIC, HealthMarkets and Michaels Stores. He also was involved in such other transactions as the London International Financial Futures & Options Exchange (LIFFE), Aspen Insurance, Bayview Asset Management, Financial Guaranty Insurance Co. (FGIC) and SunGard. His final day with Blackstone was last Tuesday, or Inauguration Day.

According to the Federal Elections Commission database, Kabaker donated $2,300 to the Obama campaign in late 2007, and also contributed another $5,000 last October to a PAC called the Obama Victory Fund.

peHUB has left a message with the Treasury Department, and will update this post if or when it responds.