Teacher fund to invest in lottery privatization?
Source: By Robert Elder, Austin American Statesmen (TX), Thursday, August 9, 2007, 02:28 PM
A handy “deal log” is issued at almost every meeting of the Teacher Retirement System board of trustees. It lists the system’s current investments in private equity and real estate and which firms the trustees are considering for future investments.
The most recent deal log includes an intriguing reference under “further due diligence:” A potential $300 million investment in a massive fund from a firm called Colony. Its strategy, according to the deal log, is “privatization of state lottery.”
...... Gov. Rick Perry in January floated the idea of selling the Texas lottery to private interests to boost the budget surplus, but the plan went nowhere in the legislative session.