Democratic Attorney General Martha Coakley on Thursday called for federal securities regulators to take a look at one of her gubernatorial campaign rivals, Republican Charlie Baker, and his work at a Cambridge venture capital firm.
Coakley said that the Securities and Exchange Commission should review a $15 million deal between General Catalyst and New Jersey’s public pension fund. Some of that money went toward the firm’s investment in a health insurance startup upon whose board Baker sits. She stopped shy of calling for a formal investigation.
“They should look at these allegations,” Coakley said of the SEC. “They know best whether they have jurisdiction and whether they raise issues. But I would hope at least they would do a review of these allegations, to determine whether or not a further investigation is needed.”
Baker has denied any wrongdoing, and said he was unaware that General Catalyst had raised money from the pension fund.
The deal between General Catalyst and the pension fund came months after Baker donated $10,000 to the New Jersey Republican State Committee, which is controlled by the state’s Republican governor, Chris Christie, a Baker political ally. Baker said he made the contribution because of Christie’s support for him during his failed 2010 gubernatorial campaign against Governor Deval Patrick.
You have reached the limit of 5 free articles in a month
Stay informed with unlimited access to Boston’s trusted news source.
- High-quality journalism from the region’s largest newsroom
- Convenient access across all of your devices
- Today’s Headlines daily newsletter
- Subscriber-only access to exclusive offers, events, contests, eBooks, and more
- Less than 25¢ a week