The Oregon Investment Council (OIC) oversees the investment and allocation of all State of Oregon trust funds, including the retirement investments for public workers, or PERS.
Did you know that OIC has been investing State of Oregon retirement funds with the Portland-based private equity firm Endeavour Capital?
Private equity firms like Endeavour are designed to extract wealth from communities for the sole benefit of the 1%. Endeavour is the majority owner of Portland’s local union busting grocery chain, New Seasons Market. It’s also the majority owner of one of the largest bail bond companies in the nation, Aladdin Bail Bonds. If that isn’t a bad enough wrap sheet, this private equity firm is also a repeat investor in for-profit educational companies.
Public workers across Oregon have dedicated years of their working lives to serving the common good, and now part of their future is being tied into the interest of something quite opposite. Endeavour Capital and the companies it owns have:
Endeavour has also received significant investment from the Murdock Charitable Trust, which has funded extremist anti-LGBTQ causes like the so-called “ex-gay therapy” (or “conversion therapy”).
These actions are offensive to the ideals of justice that are at the core JwJ’s work, and at the core of our community. It is unconscionable that our public retirement funds are being invested in a company that profits off such disgusting businesses and business practices.
Our public workers deserve better. We are asking that the OIC listen to people of good will, act as responsible fiduciaries for Oregon’s future, act justly, and divest from Endeavour Capital.