Let’s Speculate More About Matt Bevin!

Following up on yesterday’s shenanigans about why Matt Bevin deserves scrutiny from folks in Washington, D.C. …

Neil Ramsey isn’t just an investment manager – he owns and runs a hedge fund. RQSI, short for Ramsey Quantitative Systems Inc. Think about that – not just an investment manager. But a hedge fund owner. Sitting at KRS. Why that’s a concern: It’d be easy for other hedge funders to steer tens of millions into his company with no disclosure.

From a PDF (Warning: External PDF Link) on the Kentucky Retirement Systems website:

Neil Ramsey is the founder and president of RQSI, a Kentucky corporation that is registered with the CFTC as a Commodity Pool Operator, Commodity Trading Advisor, and Introducing Broker, and is a member of the NFA. RQSI is engaged in the management of proprietary and client investment capital through the allocation of funds to independent money managers as well as managing a portion of the funds on a discretionary basis.

Mr. Ramsey is responsible for the leadership of quantitative strategies development and providing strategic direction for RQSI. Prior to forming these entities, Mr. Ramsey was a consultant at the Boston Consulting Group where he worked with both domestic and foreign multi-nationals in developing corporate strategies. Neil received his B.S. in Engineering from Vanderbilt University, Summa Cum Laude. Neil also received his M.B.A. from Vanderbilt University.

He is also president and CEO of CONFICARE, a senior housing developer and investment company headquartered in Louisville, Kentucky. He is responsible for directing all external investments for the firm including allocations to the real estate sector both domestically and internationally.

Matt Bevin also owns a hedge fund, of course, called Waycross Partners. Since he doesn’t release his tax returns, there’s no way to know what he earns from it or has earned from it.

KRS trustee Bill Cook probably still has ownership (no one will answer questions, so who knows if he gave it up when he retired in 2015?) in KKR PRISMA Hedge Fund of Funds. Probably makes millions per year in fees from KRS in its secret, no-bid contract. All we can do is speculate because transparency is not a thing with KRS.

Cook’s top lieutenant at PRISMA is/was Donna Heintzman, who was named by Bevin to protect hedge fund interests at the UofL Foundation.

And… Cough, cough.

No-bid contracts in hedge funds and private equity, like Mitt Romney’s Bain Capital, from KRS & KTRS produce more than $100 million per year in fees that go directly to Wall Street. So it’s pretty easy to assume hedge funders would want to keep their cash cow alive and they’d want to reward anybody helping them baby said cow.

Bevin’s last-minute stripping of Senate Bill 2 (competitive bidding), along with Senate Bill 223 (CERS divorce), was probably (possibly?) directed by Ramsey to save hedge fund and private equity contractors tens of millions. They could afford to buy him a new Anchorage estate every year.

Frankfort Republicans want to play this game where they portray themselves as saviors of Kentucky’s pension disaster(s) but they’re no better than their Democratic Party predecessors. They’re just as secretive, shady, vindictive and eager to secretly enrich themselves and their friends. If they want to lead? They ought to shed their good old boy skin and shine a bright light on what’s going on. Otherwise, Democrats are going to clean up in 2018, 2019 and 2020.