● Covered by 1 source · 1 reportMedium impact1 negative
Pentagon Official's Personal Lawyer Represented DoD in Critical Minerals Deal
Key points
- DoD invested $400M and loaned $150M to MP Materials for rare earth mining.
- Alan Waldenberg represented DoD in the MP Materials deal.
- Waldenberg also manages Stephen Feinberg's trust and advises Cerberus Capital Management.
- Stephen Feinberg is the second-highest civilian official at the Pentagon.
Pentagon's Investment in Critical Minerals
The Department of Defense (DoD) announced a $400 million stake and a $150 million loan to MP Materials last year. This funding is intended to expand operations at the company's Mountain Pass, California, rare earth mining site, which is the only such location in the U.S. This deal is part of the Pentagon's broader effort to reduce reliance on Chinese critical minerals supply chains, with over $2 billion in similar investments and loans made during the second Trump administration.
Lawyer's Dual Role in DoD Deal
Alan Waldenberg, a private equity lawyer and partner at McDermott Will & Schulte, represented the Department of Defense in the MP Materials transaction. Waldenberg confirmed his role in the DoD deal to The Prospect. He stated that Stephen Feinberg, the second-highest civilian official at the Pentagon, chose him due to a "high degree of trust" built over decades of working together, and that the arrangement was discussed with the department's ethics staff.
Connections to Pentagon Official and Private Equity
Beyond his representation of the DoD, Waldenberg also manages an irrevocable trust for Stephen Feinberg, which holds Feinberg's assets from Cerberus Capital Management and benefits his adult children. Additionally, Waldenberg serves as president of Feinberg's charitable foundation and provides outside legal counsel to Cerberus Capital Management, where Feinberg was previously founder. These multiple roles for Waldenberg, involving the DoD, Feinberg, and Cerberus, had not been previously reported.
Potential Conflict of Interest
The simultaneous representation of the DoD, management of Feinberg's personal trust, and counsel to Cerberus raises questions regarding potential conflicts of interest. Waldenberg maintained that the interests of his three clients have been kept separate. This situation highlights the complex relationships between government officials, their personal finances, and private sector entities involved in significant government contracts.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
A top private equity lawyer, Alan Waldenberg, represented the Department of Defense in a $400 million investment and $150 million loan to MP Materials, while also managing the trust of Stephen Feinberg, the Pentagon's second-highest civilian official, and providing counsel to Feinberg's former firm, Cerberus Capital Management. This arrangement raises questions about potential conflicts of interest due to Waldenberg's multiple roles involving the DoD, Feinberg, and Cerberus.