Compliance March 5, 2025

Treasury Secretary Bessent Announces JR Gibbens as Sovereign Wealth Fund Adviser

Gibbens joins the Treasury from the Office of Strategic Capital, a unit of the Department of Defense that invests in areas critical to national security.

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Secretary of the Treasury Scott Bessent announced last week several new appointments to the department, including former private equity executive JR Gibbens as an adviser for strategic investments and plans related to the establishment of a U.S. sovereign wealth fund.

In early February, President Donald Trump signed an executive order authorizing the Department of the Treasury and the Department of Commerce to establish a sovereign wealth fund over the next 12 months. That duty falls on Bessent and Secretary of Commerce Howard Lutnick, a former chairman of Cantor Fitzgerald.

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Gibbens joins the Treasury from the Office of Strategic Capital, a unit of the Department of Defense that invests in areas critical to national security. He was the inaugural CIO of the DoD’s first credit program.

Prior to working for the government, Gibbens was the director of private capital markets at Capstone Partners, worked as a fixed-income trader, co-founded a drone company, and began his career as a fighter pilot. He earned a bachelor’s degree from the U.S. Air Force Academy, a master’s degree from Southern Methodist University and an MBA from the Rice University Business School.

In addition to Gibbens, Treasury announced the following appointments:

  • Gene Lange, counselor to the secretary;
  • Derek Theurer, counselor to the secretary, advising on domestic and international tax policy; and
  • Tyler Williams, counselor to the secretary, advising on digital assets and blockchain technology.

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