The Cordisco Pledge

As a candidate for the office of Treasurer for the Commonwealth of Pennsylvania, I pledge that I will not accept any campaign contributions from private equity or venture capitalists, or their direct beneficiaries.

I believe that acceptance of these contributions from the very people I will be charged with selecting and managing stands as a clear conflict of interest for the Treasurer of Pennsylvania, who sits directly on the Board of Trustees of both the Pennsylvania State Employees’ Retirement System (SERS) and the Public School Employees’ Retirement System (PSERS). These investments affect the lives of hundreds of thousands of state employees and teachers and should be free from pay-for-play or the seeming implication of such.

I further pledge that my administration will usher in a new era of transparency for the Commonwealth’s private equity and venture capital investments. As Treasurer of the Commonwealth, I pledge that my administration will provide better public disclosure of specific private equity and venture capital fund performance on an easy to use web site, providing the public and the media full accountability and visibility into our investment results. I also pledge to make public the information about each fund’s investment in the Commonwealth of Pennsylvania and the impact on our employment, so that the public and press can readily determine whether the Commonwealth’s own investments are sacrificing or creating job opportunities for our workers and citizens.

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