Uhh, just what is going on here?
Florida’s state pension fund is investing $174-million in a controversial for-profit school management company.
Through one of its money managers, Liberty Partners, the pension fund has agreed to buy out the shareholders of Edison Schools Inc., taking the New York company private.
In effect, the fund that provides for the retirement pensions of Florida teachers and other public employees will own a company that has played a leading role in privatizing school management.
Oh, and one of Atrios’ commenters notes that Liberty Patners has exactly one client. Can you guess who?