In a recent congressional trade report, it was disclosed that Kathy Manning, a Congress member representing North Carolina's 6th congressional district, has made a significant investment in PayJoy Asset Fund LLC. The transaction, which took place on April 30, 2024, was a purchase valued between $100,001 and $250,000.
PayJoy Asset Fund LLC is a private equity fund, as described in the report. This investment was made through the 2021 Kathy E. Manning Irrevocable GST Trust FBO Randall R Kaplan & Descendants, indicating that this is a trust account used by Manning for investment purposes.
This recent investment by Manning aligns with the ongoing trend of congressional members investing in private equity funds, which are typically less liquid but potentially offer higher returns than traditional investment vehicles.
The report does not disclose any capital gains over $200 from this transaction. However, given the size of the investment, it could potentially yield substantial returns in the future.
This transaction is part of the periodic transaction reports that Congress members are required to submit under the STOCK Act, which is designed to promote transparency in the financial activities of federal legislators.
Investors and constituents alike will be keen to see how this investment plays out for Manning in the future.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.