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Photo: Mark Makela/Getty Images

Expect to begin hearing a lot about private equity firm Pine Island Capital Partners, as its partners include Tony Blinken (Biden's secretary of state nominee, now on leave from Pine Island) and Michèle Flournoy (Biden's possible defense secretary nominee).

What to know: Pine Island was formed in 2018 by former CIT Group and Merrill Lynch CEO John Thain, former Goldman Sachs buyout big Phil Cooper, and ex-Coca-Cola executive Clyde Tuggle. It focuses on mid-market companies in a variety of sectors, including aerospace and defense.

To date, it's operated as a fundless sponsor, buying two companies that rely in large part on government contracts. It also formed a SPAC and does have eventual plans to raise a traditional private equity fund.

Details: Pine Island has an informal relationship with WestExec Advisors, a consulting firm whose co-founders include Blinken and Flournoy. A Pine Island spokesperson says no money ever changed hands between the two shops.

Between the lines: Obviously, there's a D.C. revolving door issue here, although its importance is subjective rather than statutory. But don't be surprised if Senate Republicans demand information on Pine Island's investors, some of whom might be covered by confidentiality agreements.

Go deeper

Updated Mar 24, 2021 - Politics & Policy

Biden Cabinet tracker: Which nominees have been confirmed

Joe Biden and Kamala Harris on Jan. 16 in Wilmington, Delaware. Photo: Angela Weiss/AFP via Getty Images

All of President Biden's Cabinet nominees have now been confirmed by the U.S. Senate.

The big picture: Biden now has known, trusted people around him, many from the Obama administration, to help implement his policies and turn away from the tumultuous Trump years.

Thousands without power as "hazardous" winter storm lashes East Coast

Winter view from Charlotte as winter storm Izzy creates dangerous conditions in Charlotte, N.C. on Jan. 16. Photo: Peter Zay/Anadolu Agency via Getty Images

A major winter storm was lashing much of the East Coast on Sunday, causing widespread power outages and disrupting travel over the holiday weekend.

The big picture: Heavy snow and ice accumulations are "likely to produce hazardous travel," downed trees and more power outages from the Mid-South to the Northeast, per the National Weather Service. Some parts of the U.S. can expect to see up to a foot of snow through Monday.

Updated 4 hours ago - Science

Volcanic eruption in Tonga caused "significant" damage

This satellite image of the eruption on Jan. 15 taken by Himawari-8, a Japanese weather satellite operated by Japan Meteorological Agency and released by National Institute of Information and Communications Technology (NICT). Photo: NICT via AP

Significant damage has been reported in Tonga following an undersea volcanic eruption on Saturday, which covered the Pacific nation in ash and cut off communication lines.

Driving the news: The eruption triggered tsunami warnings across Tonga's islands and in other regions, including the West Coast of the U.S. and New Zealand.