(Bloomberg) -- Donald Trump endorsed Republican David McCormick, who is running to represent Pennsylvania in the US Senate, granting the former hedge fund executive a stamp of approval he failed to win the last time he ran for office.

“I am officially giving my endorsement to David McCormick tonight,” Trump, the presumptive Republican presidential nominee, said at a rally Saturday in Schnecksville, Pennsylvania. “He’s a very successful guy. He’s given up a lot to do this.”

McCormick previously ran for Senate in 2022, losing the nomination to television personality Mehmet Oz, whom Trump endorsed after both candidates spent months jockeying for the former president’s support.

Oz went on to lose in the general election to Democrat John Fetterman. Some Republicans have blamed Trump for losing that race, saying that Oz was not a good candidate.

McCormick, the former chief executive officer at hedge fund Bridgewater Associates, is running unopposed in the Republican primary and will face Senator Bob Casey, a Democrat, in November. He thanked Trump for the endorsement in a post on X, saying that “Together we will deliver a big win for Pennsylvania and America in November.”

McCormick and Trump have had a chilly relationship. Trump in 2022 said McCormick was “the candidate of special interests and globalists and the Washington establishment.” McCormick endorsed Trump last month, but only after it was clear that the former president would become the GOP presidential nominee.

McCormick does have a long list of Wall Street supporters. Donors to his campaign include Citadel’s Ken Griffin, Blackstone’s Steve Schwarzman, Interactive Brokers’ Thomas Peterffy and Elliott Management’s Paul Singer, according to recent disclosures with the Federal Election Commission. Paul Tudor Jones also hosted McCormick for a fundraiser at his house in Palm Beach in December.

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