Overview

• Valor Equity Partners confirmed that Gracias stopped volunteering at the Department of Government Efficiency on July 1, concluding his stint ahead of the originally planned July 4 end date.
• American Federation of Teachers President Randi Weingarten wrote to fiduciaries of nine pension funds overseeing $1.8 billion with Valor, questioning whether his government work compromised fund returns.
• During his tenure at DOGE, Gracias continued to manage nearly $2 billion in public pension assets and referred 57 potential voter-fraud cases to the Justice Department without verifying actual ballots.
• Pension funds including CalPERS, CalSTRS, the New York State Common Retirement Fund and the Teacher Retirement System of Texas have acknowledged the letters and are reviewing their investments with Valor but have not announced final decisions.
• Gracias’s exit marks the latest in a series of departures by Elon Musk allies from DOGE following Musk’s own departure in May, highlighting private-equity influence in government roles.