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Keyword: chicagopensionfunds

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  • THE WATCHDOGS: Pension funds lost millions on deals with Daley nephew, Obama pal

    02/28/2016 6:24:19 PM PST · by lowbridge · 11 replies
    chicago.suntimes.com ^ | february 27, 2016 | tim novak
    A real estate venture created by President Barack Obama’s onetime boss and a nephew of former Mayor Richard M. Daley squandered $68 million it was given to invest on behalf of pension plans for Chicago teachers, cops, city employees and transit workers, a Chicago Sun-Times investigation has found. The five public pension funds haven’t made a dime on the investments they made nearly a decade ago with DV Urban Realty Partners, a company created by Obama’s ex-boss Allison S. Davis and Daley nephew Robert G. Vanecko, records show. In fact, the financially troubled pension plans have lost most of the...