Chicago-based Victory Park Capital Advisors LLC on Thursday announced that former US senator and onetime vice-presidential candidate Joseph Lieberman will join the private equity firm as chairman of its executive board.

According to New York Times, Lieberman retired from the Senate last January after representing Connecticut in Washington for 24 years. Lieberman's appointment comes after his move to the law firm Kasowitz Benson Torres & Friedman in New York last summer.

Lieberman in a statement said that while in the US Senate, he fought for policies that would allow small businesses to thrive. The former senator is looking forward to a long-term partnership with Victory Park Capital that will position the firm for continued growth.

Before being elected to the Senate in 1988, Lieberman, 71, served as attorney general in Connecticut for six years. He also served as a state senator for 10 years before being named as attorney general, the report said.

Victory Park Capital invests in mid-market companies across a range of industries, including oil and gas and airlines, NY Times said.