Wall Street lobbyist hits up San Diego city hall for private equity cash just before liberal Democrat takes control
It may not seem exactly a marriage made in heaven for new Democratic Mayor Bob Filner, but a big New York private equity outfit run by a headline-grabbing Chicagoan has signed up to lobby the city of San Diego regarding a possible investment in its latest corporate buyout fund.
On October 3, a month before voters picked Filner over then-GOP city councilman Carl DeMaio, the Jordan Company filed a lobbying registration statement with the city clerk, saying it was seeking "approval of [an] investment" in its Resolute Fund III limited partnership.
The lobbyist for the firm is listed as Kristin Custar, head of investor relations. Back in August 2008, with the market in full meltdown, American Public Media reporter Amy Scott was given a rare a tour by Custar of the Jordan Company's usually secretive investment operation.
AMY SCOTT: The Manhattan offices of The Jordan Company look a bit like a bunch of ex-jocks took over a fancy law firm.
KRISTIN CUSTAR: This is what we call the dugout. We're very sports oriented here. And this is where our younger guys all sit.
Scott noted that firm founder John "Jay" Jordan played football at Notre Dame.
CUSTAR: This is the bullpen. And this is where a lot of our senior associates sit.
SCOTT: So what happens in the bullpen?
UNIDENTIFIED EMPLOYEE: Work gets done.
CUSTAR: Hopefully, right?
UNIDENTIFIED EMPLOYEE: Yeah.
Wall Street got bailed out and last year, Jordan threw an expensive shindig for his wife in Las Vegas that the gregarious mega-millionaire wanted hushed up, according to Crane's Chicago Business:
SECRET PARTY: Flashiness fell out of favor during the recession, but now that the economy is perking up, some Chicagoans are showing off some bling. But they're still loath to admit it.
Consider private-equity investor Jay Jordan, who went all out in throwing a birthday party for his wife, Gretchen. The event for 200 guests was held at the Wynn Las Vegas Hotel. The headliner was Harry Connick Jr.
Mr. Jordan took to heart the mantra "what happens in Vegas stays in Vegas" and asked guests not to talk about the party.
He went so far as to include written notes at tables asking them not to talk — or take pictures.
Guests acknowledge off the record, and only in whispers, that the party was "fabulous." Mr. Jordan, perhaps trying to avoid the appearance of too much flash, denies there was a party, adding, "My personal life is off limits."
We have a call into Custar for more information regarding the city's investment opportunity.