Former Revenue Commissioner Adam Crum defended his decision to invest $50 million from the state’s main savings account in an outside private equity fund in an interview Thursday. The investment with the infrastructure firm DigitalBridge has raised concerns among lawmakers, who have asked their auditor to investigate it.
The investment also raised eyebrows within the Department of Revenue.
Crum’s successor, acting Revenue Commissioner Janelle Earls, expressed concern over the process that led to the investment, a spokesperson said. In response, Gov. Mike Dunleavy ordered an independent third-party review of the investment to determine “whether there were in fact any violations of policy and make process recommendations as appropriate,” Department of Revenue spokesperson Aimee Bushnell said by email Wednesday. Bushnell said DigitalBridge…
