Pennsylvania's 12th slot casino operation will be located at the Valley Forge Convention Center. According to Chris Friend at The Bulletin the Philadelphia investment group collectively donated $3.8 million to Governor Rendell.
The Valley Forge casino’s investor group is headed by Ira Lubert, chairman of GF Management and a co-founder of Lubert-Adler, a real estate private equity firm. Mr Lubert has contributed $141,000 to Gov. Rendell’s campaigns.
He is also a partner in a money management company in which more than $1 billion from the state’s two largest pension funds has been committed. Those pension funds paid Mr. Lubert’s firm $8 million in fees last year. Mr. Lubert has been associated with numerous other businesses that have made significant contributions to Mr. Rendell.
According to the Lubert-Adler corporate Web site, Mr. Lubert was the principal and founder of TL Ventures, whose employee and business donations totaled $62,000.
Mr. Lubert is listed as a co-founder of LLR Partners and Rubenstein Partners. Employees of both firms contributed $109,400 to Mr. Rendell.
The investors are represented by the Ballard Spahr law firm, which has a long history of intimate relationships and high dollar donations to Mr. Rendell.
Ballard is the Democratic governor’s former firm. Brothers-in-law John Estey and Adrian King Jr., both partners at Ballard, served as chief of staff and deputy chief of staff to Mr. Rendell, respectively, and have contributed $35,000 to his campaigns.
If you read the rest of the article all the donations he highlights total $3.8 million.