Investment firms winning Florida pension business fund Rick Scott’s political committee

The SEC restricts such donations to candidates but rules are murky for 'independent' committees
File photo of Gov. Rick Scott.
File photo of Gov. Rick Scott.
Published April 19, 2018

From a new report by the highly regarded campaign finance watchdog group Maplight:

…Scott, a Republican, began chairing the New Republican PAC in May 2017 and announced his former campaign manager would serve as its executive director. Soon after, the group received $5,000 from New Mountain Capital Chief Executive Officer Steve Klinsky and $50,000 from Energy Capital Partners founder Douglas Kimmelman.

The contributions flowed to the super PAC after New Mountain Capital and Energy Capital Partners received a combined $250 million worth of new investment commitments from Florida's state pension system in 2014 and 2015. Scott is one of three state officials who oversee the $160 billion pension system. During the most recent fiscal year, the Florida investments generated more than $3 million in fees for the firms….

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