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Lew: "I Didn't Know" Fund I Invested In Was Based in Cayman Islands

Sen. Max Baucus asks Jack Lew, the president's nominee for Treasury secretary, about his investment in a venture capital fund that was based in the Cayman Islands.

BAUCUS: Why was the investment in the Cayman Islands?

LEW: Senator, I actually don't know why it was organized. I was not involved in setting up the fund.

BAUCUS: Did you know at the time?

LEW: At the time I invested, I was aware that it was an international fund investing in emerging markets. I knew that much of the personnel for the fund was based in London. I actually didn't know at the time what the address of the partnership was.

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