TRENTON, N.J. (AP) - New Jersey officials are reviewing whether it was proper to hire a venture capital firm where an executive is a candidate for governor of Massachusetts who once donated money to the New Jersey Republican State Committee.
It is against New Jersey law for the state to hire investment firms with managers who have made political donations over the prior two years.
State Treasury Department officials disclosed the review at Wednesday’s meeting of the State Investment Council.
At issue is the December 2011 hiring of General Catalyst Partners to handle $15 million in investments.
Massachusetts gubernatorial candidate Charlie Baker has been the firm’s entrepreneur in residence for three years.
New Jersey Gov. Chris Christie supported Baker’s losing 2010 gubernatorial bid and he gave $10,000 to the New Jersey GOP in 2011.
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