Light Drizzle
41°FLight DrizzleFull Forecast

Report: Rauner firm had Cayman investment funds

Published: Wednesday, Aug. 20, 2014 12:05 a.m. CST

SPRINGFIELD – A newspaper reported that Republican Bruce Rauner’s former private equity firm set up investment funds in the Cayman Islands – including ones in which he has a personal financial interest.

The disclosure by the Chicago Sun-Times stirred up a new round of calls from Democratic Gov. Pat Quinn’s campaign for his Republican rival to fully disclose his financial holdings.

Rauner was in charge of the Chicago-based firm GTCR when it set up a dozen funds from 2009 to 2011 in the Caribbean nation known as a tax haven. The Sun-Times reports that three of those are funds in which Rauner has a personal interest, which has reported earlier this month.

Rauner spokesman Mike Schrimpf said the investments are legal “flow-through” funds and a “common” device in investment strategy.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Reader Poll

Are you giving up anything for Lent?