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.