It was big news when Byron Trott, the former Goldman Sachs banker for Warren Buffett, left the firm for new opportunities, which apparently lie in the private equity industry. He has raised more than $2 billion for his fledgling BDT Capital Partners, reports the Financial Times. This is an impressive sum for a new entrant at a tough time.

He's apparently maintaining close ties to Goldman Sachs. It's unclear what the focus of the new investment fund will be. Perhaps he'll seek some insurance deals. But more likely, Trott has broadened his scope. The firm has already hired some senior executives, including Don McLellan, former head of mergers and acquisitions at Motorola. 

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