Money Talks

Rob Christensen and David Raynor, Staff Writers

Two years before the 2008 primaries for governor, the biggest buzz has been about state Treasurer Richard Moore’s emergence as the leading fundraiser.

Much of Moore’s money — 42 percent — has been raised out of state. A large part of it has come from companies hired by the treasurer’s office to help invest the state’s $65 billion portfolio.

Moore raised at least $108,000 in 2005 from financial companies on Wall Street and elsewhere that do business with the treasurer’s office. He received contributions from executives with such companies as Wellington Management and State Street Corp. of Boston, Ariel Capital Management of Chicago, the Quellos Group of Seattle and Raymond James & Associates of Tampa, Fla. All have a role in managing the state pension fund.

Robert Johnson, the founder of Black Entertainment Television and owner of the NBA’s Carolina Bobcats, raised at least $23,000 for Moore in September. Johnson’s company, RLJ Development, is branching out to money management. The company was hired in March 2005 by the treasurer’s office and now manages $325 million of the state pension fund.

In October, Moore was in San Francisco for a fundraiser hosted by Douglas Shorenstein, chairman and CEO of Shorenstein Properties. Shorenstein executives gave $18,000 to Moore’s campaign. The previous year, Shorenstein’s firm was hired to manage $260 million of the pension fund.

Moore, in a statement, noted that The Wall Street Journal said North Carolina had the second-best-funded pension fund in the country, trailing only Florida. (more…)

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