Report: Rauner has stake in 100- plus firms
Gov. Bruce Rauner — a former venture capitalist and multimillionaire — on Friday released his statement of economic interests.
Rauner — who doesn’t take a salary as governor — is required to list information about entities and investments that could give rise to conflicts of interests. But he doesn’t have to offer full financial disclosures.
Under companies in which he had an ownership interest of more than $ 5,000 market value or which had dividends more than $ 1,200, Rauner listed 111 companies, including Chicago Bulls LP, Citadel Wellington LLC, various GTCR Partners entities and Pangea Properties.
Pangea owns and manages more than 8,000 apartments in Chicago and the suburbs — 1,200 of them rented by CHA voucher holders whose households had a total of 2,111 people, according to figures from last year.
Rauner in 2012 stepped down from his role as chairman of Chicago based private equity firm GTCR, of which he was an early partner, then created the small firm R8 Capital Partners, which invested in smaller Illinois companies. At the time Rauner said he quit GTCR because it invested on behalf of state and local pension funds and he wanted to focus on civic efforts.
Under companies in which there was a capital gain of more than $ 5,000, Rauner listed 57 companies; there are 66 companies listed as ones in which more than $ 1,200 in income was derived during the preceding calendar year.
The former venture capitalist and his wife placed their investments in a blind trust days before he took office in 2015 — a pledge Rauner made during his campaign to avoid conflicts of interest from his extensive financial holdings.
Under the blind trust, Rauner and his wife, Diana, granted Roundtable Investment Partners exclusive power of attorney, giving the company control of every investment, including the buying and selling of assets.
In a supplemental statement of economic interest, Rauner listed that he is an “ex officio trustee” with the Adler Planetarium Board of Trustees, for which he receives no compensation.
Rauner last November released his 2015 tax returns, showing he and his wife Diana made more than $ 188 million in state taxable income. The Rauners paid more than $ 50 million in federal and state taxes. They made $ 58 million in 2014.