Obama Mentor Allison Davis Sues Chicago Pension Funds

Barack Obama's former career sponsor Allison Davis is back in the news. Crain's Chicago Business reports:

Politically connected Chicago real estate investor Allison Davis has sued five Chicago-area public employee retirement funds that are trying to dump his firm as the manager of $67 million of their money.

The lawsuit comes almost three years after a nephew of former Mayor Richard M. Daley, Robert Vanecko, quit as a general partner of the Davis fund, which had become the subject of federal and city probes examining how it got the pension money.

The complaint alleges that the five pension plans, which invest money on behalf of city employees, wrongfully terminated DV Realty Advisors LLC as the general partner of a real estate fund that owns properties in the Chicago area. Mr. Davis and his son, Jared Davis, control DV Realty.

No word yet on this story from Barack Obama.