Former Chicago Mayor Richard M. Daley’s post-mayoral career took greater shape Thursday with his most high-profile position yet: joining the board of directors at Coca-Cola Co.
Although the Atlanta-based beverage giant represents Daley’s first corporate board membership since leaving office in May, the former mayor is also focusing his attention on global business and investment activities, as well as urban policy issues.
Coca-Cola’s news release announcing Daley’s election to the board revealed he has launched a Chicago-based investment and advisory firm called Tur Partners LLC that focuses on sustainable urban development. According to the firm’s website, Daley’s son, Patrick Daley, is a principal, and its management roster includes executives with extensive experience in finance and international business.
Russian investment appears to be a particular area of focus for Tur Partners, which has a related entity called Tur Partners Eurasia LLC. Patrick Daley has lived in Moscow. According to the website, the managing principal of Tur Partners Eurasia is Mukharbek Aushev, a former Russian legislator and executive at Russian oil company Lukoil.
Konstantin Koloskov, who is listed as a principal at Tur Partners Eurasia, is a Russian national who has lived in Chicago and formerly managed an emerging market hedge fund with more than $200 million in assets at investment bank UBS.
In September, Richard Daley was named to the international advisory board of the Russian Direct Investment Fund, a $10 billion fund created by the Russian government to make equity investments primarily in its home country. The fund is mandated to co-invest alongside foreign investors.
Daley was traveling and unavailable for comment Thursday.
According to the Tur Partners website, the firm also counts Michael Reinhold as a principal. Reinhold was co-founder of XAltitude LLC, a private equity firm focused on “sustainable positive social impact” in the U.S., Asia and Africa.
Another principal, at Tur Partners China, is Jin Tian, former chief executive of Morningstar Asia. Morningstar is based in Chicago.
A. Joshua Strickland, a former attorney at Kirkland & Ellis in Chicago in the private equity group, is listed as vice president at Tur Partners.
Daley’s plate was filling up before his election to Coca-Cola’s board. In June, Katten Muchin Rosenman LLP said he was joining the international law firm as of counsel, a position that would leave the former mayor free to pursue other projects.
Daley is also a distinguished senior fellow at the Harris School of Public Policy at the University of Chicago and a senior adviser to JPMorgan Chase, where he is chairing a project between the investment bank and the Brookings Institution on urban economic development.
As a nonemployee board director at Coca-Cola, Daley’s compensation will amount to $175,000 a year, with $50,000 in cash and $125,000 in deferred stock units.
“Mr. Daley brings significant public policy expertise and experience in creating sustainable growth opportunities for businesses and communities to our company,” Coca-Cola Chief Executive Muhtar Kent said in a statement.
Tribune reporters Melissa Harris, John Chase and David Kidwell contributed.
