President Biden’s niece, while working in the Obama administration’s Treasury Department, shared advice with her first son, Hunter Biden, about China’s largest government wealth fund, which he then pursued as a potential investment opportunity, according to emails on his abandoned laptop.
Casey Owens, daughter of first sister Valerie Biden Owens, notified her cousin and business partners at the now-defunct Rosemont Seneca Advisors about an investment conference held by the China Investment Corporation (CIC) while working as a special assistant for the department’s interstate United States and China. Strategic and economic dialogue, as shown in an email dated April 12, 2010.
“FYI, regarding CIC’s recent investment conference at a resort in Sanya, Hainan Island, over the weekend of March 27-28,” Owens wrote to Hunter and his partner Eric Schwerin in the letter. from his official Treasury email account, along with text from an AsianInvestor.com article.
The conference was billed as a “coming out” party for the sovereign wealth fund, which held hundreds of billions of dollars, after a successful return on its international investments the previous year, according to the article.
Hunter Biden had met and posed for photos with CIC CEO and Chief Investment Officer Gao Xiqing a few days earlier, according to a 2020 report on his overseas ventures compiled by Senate Republicans.
As president of Rosemont Seneca, Hunter had “visited Chinese financial institutions and fund companies from April 7 to 9,” according to an April 12, 2010 press release from Boston investment advisory firm Thornton Group, “with “the objective of further deepening mutual understanding and exploring the possibility of commercial cooperation and opportunity.”
Casey Owens, daughter of first sister Valerie Biden Owens, notified her cousin and business partners about an investment conference held by China Investment Corporation.Twitter
Owens made his own trip to China the following month, as part of an American delegation led by then-Treasury Secretary Timothy Geithner. During the visit, then-Chinese Finance Minister Zhu Guangyao gave Owens a “small jade vase as a birthday gift,” according to an article in his high school alumni magazine, The Tower Hill Bulletin.
Owens shared advice with Hunter Biden about China’s largest government wealth fund.REUTERS/Jonathan Ernst
Hunter had “visited Chinese financial institutions and fund companies from April 7 to 9,” according to a 2010 press release. Getty Images/David McNew
The US-China Strategic Economic Dialogue team “worked very closely” with Zhu, the article states.
Months later, Owens shared a Bloomberg News article highlighting a “record year” for CIC after the 2008 financial crisis and contacted another Rosemont Seneca associate to discuss coordination among government-sponsored enterprises (GSEs). and China.
“Following our conversation about the GSEs and China, I wanted to put you in touch with Hunter’s cousin, Casey Owens, who works at the Treasury Department and works on the Strategic Economic Dialogue,” Schwerin wrote in a Sept. 4 email. August 2010 to associate, Jack Casey. “I have copied Casey on this email. Don’t hesitate to contact her directly; “She is waiting to hear from you.”
“Jack, happy to talk at your convenience,” Owens responded. Schwerin also sent the trade to Hunter.
Eric Schwerin linked Hunter and Devon Archer in an email with a ranking of the world’s top sovereign wealth funds. Rod Lamkey – CNP
Fox News first reported on the emails between Owens, Hunter and their associates, and a source familiar with the situation told the outlet that Rosemont Seneca had likely been looking to CIC to invest in its clients.
A year later, Schwerin emailed Hunter and Rosemont Seneca co-founder Devon Archer with a ranking of the world’s top sovereign wealth funds, including CIC, which listed $332 billion in assets at the time.
“Let’s discuss today what more we can do to connect with these groups,” Archer said in response to the March 8, 2011 email, pointing to an upcoming meeting they had scheduled with CIC for April 21.
That meeting took place the following month, The Post previously reported, although there is no evidence that an agreement was ever reached between the parties.
Owens also apparently emailed her uncle while he was vice president, according to communications on Hunter’s laptop, and in one email she said she was “deeply” affected by “unbelievable” comments he made to her. your Treasury team.
Owens wrote to Hunter and his partner Eric Schwerin in the letter from his official Treasury email account, along with text from an AsianInvestor.com article.
Email exchange between Schwerin and Owens.
“That was really something else, Uncle Joe. What a way to get out of the Treasury,” he wrote on May 10, 2011 to a pseudonymous email address titled [email protected].
“I’m almost embarrassed by how deeply it impacted me today. I’m just happy to be around you and I just wanted to thank you for including me,” she said in the account, which is named after the mascot of Archmere Academy, where Biden and her son attended high school.
Two years later, Rosemont and Thornton would form the private investment fund BHR Partners with two Chinese entities linked to the state-run Bank of China.
Jonathan Li is the CEO of BHR Partners.
Biden, still vice president, “had coffee” with BHR Partners CEO Jonathan Li the same year and Hunter later put his father on speakerphone with the executive, according to sworn congressional testimony Archer gave in July.
As of late 2021, Hunter was known to have a 10% stake in the company, which manages $2.1 billion in assets.
Owens got her job at the Treasury Department shortly after her uncle took over as vice president and stayed there for two years before leaving to rise through the corporate ranks at Starbucks, where she currently works as a vice president, according to her LinkedIn profile.
She did not immediately respond to a request for comment.
The White House, the Treasury Department and Hunter’s defense attorney, Abbe Lowell, also did not immediately respond to requests for comment.