Following up on a blog post from Wednesday regarding efforts by the American Federation of Teachers to get hedge funds to cut off ties with conservative groups, the union has emailed a statement to The Washington Examiner regarding the investment firm KKR. The statement is by AFT President Randi Weingarten:
While KKR did not comment on the Post story in your article, we wanted to provide a statement to allow you to correct the facts on why KKR is no longer in our report about investment managers. When we were made aware of KKR’s long-standing support of defined benefit plans, the crux of the report, we immediately amended the report and took them out of it.
The Wednesday Examiner post had quoted a New York Post story on AFT’s efforts targeting money managers. The story indicated that KKR had acquiesced to pressure from the teachers union and had cut ties to the free market Manhattan Institute. A source at KKR told the Examiner that story was not accurate; It had no significant ties to the institute and had not advocated for the pension reform policies that AFT opposed. When the firm pointed this out to the union, it was dropped from the target list. Weingarten’s statement corroborates this.