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The International Business Times reports that pension funds from Chicago teachers have been invested with Mayor Rahm Emanuel’s friends and campaign donors.
According to city documents obtained by IBTimes, the firm affiliated with Illinois’ Republican Gov. Bruce Rauner — a longtime friend of Chicago’s Democratic mayor — as well as executives at private-equity giant Madison Dearborn have gained substantial investments from the Chicago Teachers’ Pension Fund (CTPF) since Emanuel took office. The documents also show the CTPF has an indirect equity stake in Grosvenor Capital Management. Executives at the latter two firms have donated nearly $1.8 million to Emanuel’s campaign and political organizations since 2011.