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Report: Rauner firm had Cayman investment funds

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

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.

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