NJ Bill Targets Political Cash From Casino-Investing Funds

Law360, New York (December 4, 2012, 4:58 PM EST) -- New Jersey lawmakers on Monday introduced bills that would ban hedge funds and private equity funds with Atlantic City casino investments from making state political contributions and also limit the state's investments in such funds.

The measures were inspired by revelations earlier this year that the state had invested about $200 million in pension fund moneys with a hedge fund tied to the $2.4 billion Revel Casino in Atlantic City, according to one of the bills' sponsors, Assemblyman Ralph R. Caputo, D-Essex.

“It seems kind of...
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