Austin Beutner, Former Equity Firm Chief, Is Villaraigosa's Pick To Manage Economic Development

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Los Angeles Mayor Antonio Villaraigosa has turned to the former head of an equity firm to spearhead the mayor's renewed job creation effort and push to make the city a more attractive, less bureaucratic locale for business.

Austin Beutner, founder of the boutique private equity firm Evercore Partners and former partner at the Blackstone Group, will serve as Villaraigosa's deputy mayor of economic development and oversee the Port of Los Angeles and the Department of Water and Power, two major economic catalysts for Los Angeles.

He will also oversee economic development initiatives at Los Angeles World Airports.

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