Labor group complains about N.J. investments

A labor group has filed an ethics complaint claiming it was improper that the man who oversees investments of New Jersey’s pension funds was also involved in Gov. Chris Christie’s re-election campaign.

The New Jersey AFL-CIO is asking the state Ethics Commission to look into State Investment Council chairman Robert Grady.

The complaint was filed Friday.

Citing published reports, the group says the state has increased the amount of investments in hedge funds with what it calls “substantial fees” for investment advisers who contributed to Christie’s campaign and the state Republican party.

The group says prohibitions against using investment managers who have donated to politicians were lifted earlier this year.

Christie spokesman Kevin Roberts calls the filing “a cheap political stunt based on shoddy, distorted reporting.”

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