The US Senate has confirmed Thomas Barrack, the founder of private equity firm Colony Capital, as the new US ambassador to Turkey.

The appointment places a high-profile private equity figure at the centre of Washington’s diplomatic engagement with Ankara, amid ongoing geopolitical frictions.

Barrack, whose firm once managed $2.5bn in assets, received Senate approval by 60 votes to 36. The support came primarily from Republican lawmakers. He was nominated by former President Donald Trump, who described Barrack’s extensive experience in managing global private equity investments as a “critical asset” for US foreign service.

In 2022, Barrack was acquitted of charges alleging that he acted as an unregistered foreign agent for the United Arab Emirates during the Trump administration. The court found him not guilty on all nine counts, clearing the way for his return to public life.

Colony Capital, now known as DigitalBridge, transitioned its focus in recent years from traditional real estate to digital infrastructure under new leadership. However, Barrack remains a prominent figure in the private equity space, known for his cross-border dealmaking and close ties to political circles.

His confirmation comes as the US attempts to reset its relationship with Turkey, a key NATO member whose alliance with Washington has grown increasingly strained over military procurement, regional conflicts, and democratic backsliding.

Source: Reuters