While Jeb Bush was governor of Florida, state pension officials committed at least $1.7 billion to financial firms whose executives were “Pioneer” fundraisers for his brother’s presidential campaigns. To achieve Pioneer status, the fundraisers had to amass at least $100,000 worth of bundled contributions to one of George W. Bush’s campaigns.

An International Business Times analysis of Florida government documents and a list of George W. Bush’s bundlers compiled by Public Citizen found that 11 firms that received new Florida pension investments under Jeb Bush were Pioneers. IBTimes also analyzed data from the Florida Division of Elections and Political Moneyline to determine how much money executives from those firms donated directly to Jeb Bush’s campaigns, George W. Bush’s campaigns, the Republican National Committee and the Republican Party of Florida between 1998 and 2006.

Here are the companies that employed George W. Bush's top fundraisers and received pension deals in Florida under Jeb Bush:

Blackstone Group

George W. Bush Pioneers: Stephen Schwarzman (2004)

Company employees’ total contributions to the Bushes, RNC and Florida GOP: $99,000

Investment commitment from Jeb Bush's administration : $150 million (2006)

Florida taxpayer fees paid to firm under Jeb Bush : N/A

History: In 2006, the Florida pension system committed $150 million to a Blackstone Group private equity fund. Stephen Schwarzman, the firm’s chairman, was a George W. Bush Pioneer in 2004. The firm’s employees donated $86,000 to his campaigns for president, $9,000 to the RNC and $4,000 to the Florida GOP. Last month, Schwarzman reportedly attended a fundraiser for Jeb Bush.

Carlyle Group

George W. Bush Pioneers: Robert Grady (2000)

Company employees’ total contributions to the Bushes, RNC and Florida GOP: $69,000

Investment commitment from Jeb Bush's administration: $275 million (2000 and 2005)

Florida taxpayer fees paid to firm under Jeb Bush: $14 million

History: The Florida pension added new investments with Carlyle Group in 2000 and 2005 that generated almost $14 million in fees under Jeb Bush. Former President George H.W. Bush was an adviser to the firm from 1998 through 2003. One of his old aides, Carlyle executive Robert Grady, was a donor to Jeb Bush’s campaigns, a Pioneer in 2000 and a co-chairman for both of George W. Bush’s presidential campaigns. Carlyle employees gave $31,000 to those national campaigns, and $36,000 to the RNC. Last year, Grady resigned from his role as chairman of the board overseeing New Jersey’s pension system, facing questions about the state’s deals with Carlyle Group and firms whose executives had donated to groups supporting New Jersey's Republican Gov. Chris Christie.

Deutsche Bank

George W. Bush Pioneers: Jeffrey Amling (2000)

Company employees’ total contributions to the Bushes, RNC and Florida GOP: $200,000

Investment commitment from Jeb Bush's administration: $450 million (2003)

Florida taxpayer fees paid to firm under Jeb Bush : N/A

History: Under Jeb Bush, Florida pension officials placed $450 million in two funds managed by Deutsche Bank. Jeffrey Amling, a top executive at Deutsche Bank, was a Pioneer for George W. Bush in 2000. Deutsche Bank executives gave $110,000 to his presidential campaigns. They also contributed $82,000 to the RNC and $4,000 to the Republican Party of Florida. Amling was a contributor to Jeb Bush’s 1998 campaign.

Freeman Spogli

George W. Bush Pioneers: Bradford Freeman (2000 and 2004); Ronald Spogli (2000 and 2004)

Company employees’ total contributions to the Bushes, RNC and Florida GOP: $743,000

Investment commitment from Jeb Bush's administration : $50 million (2004)

Florida taxpayer fees paid to firm under Jeb Bush : $1.7 million

History: Freeman Spogli received a $50 million commitment from Florida’s pension system in 2004. That year, the firm’s lead executives, Bradford Freeman and Ronald Spogli, were both Pioneers, as they were four years earlier. The firm’s employees gave $21,000 to George W. Bush’s presidential campaigns and $670,000 to the RNC. They also donated $50,000 to the Florida GOP. Florida paid Freeman Spogli $1.7 million in fees between 2004 and 2006. Freeman has reportedly co-hosted two fundraisers for Jeb Bush this year. George W. Bush appointed Spogli as ambassador to Italy in 2005 and San Marino in 2006.

Goldman Sachs

George W. Bush Pioneers: Peter Coneway (2000 and 2004); George Walker IV (2004); Henry Paulson Jr. (2004)

Company employees’ total contributions to the Bushes, RNC and Florida GOP: $1.5 million

Investment commitment from Jeb Bush's administration : $150 million (2004)

Florida taxpayer fees paid to firm under Jeb Bush : $2.5 million

History: In 2004, Florida pension officials directed $150 million in funding to a Goldman Sachs subsidiary, while Jeb Bush’s cousin, George Walker IV, was Goldman’s head of alternative investment strategies. At the time, Walker and two other top Goldman executives were Pioneers for George W. Bush’s re-election campaign. Another, Goldman CEO Hank Paulson, would later be named U.S. treasury secretary. Goldman employees gave a total of $390,000 to George W. Bush’s campaigns, and $1.1 million to the RNC. They also gave $22,000 to Florida’s state Republican Party. The Goldman investment generated $2.5 million in fees for Goldman while Jeb Bush was governor.

Hicks Muse

George W. Bush Pioneers: Thomas Hicks (2000 and 2004)

Company employees’ total contributions to the Bushes, RNC and Florida GOP: $189,000

$189,000 Investment commitment from Jeb Bush's administration: $25 million (2001)

Florida taxpayer fees paid to firm under Jeb Bush: $1.3 million

History: Florida first invested money with Hicks Muse in 1996. With Jeb Bush as governor, the state put $25 million in a new Hicks Muse fund, which generated $1.3 million in fees during his tenure. The firm’s founder, Thomas Hicks, previously purchased the Texas Rangers baseball club from George W. Bush, and was a Pioneer for his presidential campaign in 2000. Hicks contributed to Jeb Bush’s 2002 campaign, gave $36,000 to the Republican Party of Florida and $115,000 to the RNC.

JPMorgan Chase

George W. Bush Pioneers: Alan R. Buckwalter III (2000); John O'Connor (2004)

Company employees’ total contributions to the Bushes, RNC and Florida GOP: $64,000

Investment commitment from Jeb Bush's administration : $100 million (2003)

Florida taxpayer fees paid to firm under Jeb Bush : N/A

History: Florida pension officials gave JPMorgan a $100 million pension deal in 2003. Former JPMorgan chairman Alan Buckwalter III was a Pioneer in 2000. Another top executive, John O’Connor, was a Pioneer during the 2004 campaign. JPMorgan employees contributed $31,000 to Bush’s presidential campaigns, and roughly the same amount to the RNC.

Lehman Brothers

George W. Bush Pioneers : Stephen Lessing (2004)

Company employees’ total contributions to the Bushes, RNC and Florida GOP : $499,000

Investment commitment from Jeb Bush's administration : $175 million

Florida taxpayer fees paid to firm under Jeb Bush : N/A

History: The Florida pension system invested in Neuberger Berman in 2005. At the time, the firm was owned by Lehman Brothers. A year earlier, Lehman executive Stephen Lessing was a Pioneer for George W. Bush’s re-election campaign. Lehman employees gave nearly $300,000 to his national bids. In 2006, George Walker IV joined Lehman to guide Lehman’s asset management business, including Neuberger Berman. One year later, after Jeb Bush left office, he joined Lehman as an adviser for the firm’s private equity business. Funding numbers for Florida’s initial Neuberger Berman investment were not available at press time.

Morgan Stanley

George W. Bush Pioneers: Palmer Murray (2000) John Mack (2004), Richard Powers III (2004) Philip Purcell (2004), William Strong (2004)

Palmer Murray (2000) John Mack (2004), Richard Powers III (2004) Philip Purcell (2004), William Strong (2004) Company employees’ total contributions to the Bushes, RNC and Florida GOP: $1.1 million

Investment commitment from Jeb Bush's administration : $150 million (2006)

Florida taxpayer fees paid to firm under Jeb Bush : N/A

History: Six months before Jeb Bush left office, Florida pension officials invested $150 million in a Morgan Stanley real estate fund. Before that, four of the firm’s top executives had previously served as Pioneers for his brother. Morgan Stanley employees donated $625,000 to George W. Bush’s campaigns. They also gave $18,000 to the Republican Party of Florida and over $515,000 to the RNC.

Prudential Financial

George W. Bush Pioneers: Jon Hanson (2000)

Company employees’ total contributions to the Bushes, RNC and Florida GOP: $406,000

Investment commitment from Jeb Bush's administration : $100 million (2005)

Florida taxpayer fees paid to firm under Jeb Bush : N/A

History: Florida officials first put pension money in a Prudential real estate fund in the 1980s. Florida pension officials liquidated the state's investment in Prudential's PRISA fund in 2003, but invested in it again two years later. Jon Hanson, a longtime Prudential board member, was a Pioneer in 2000, and Prudential employees gave $70,000 to George W. Bush’s presidential campaigns. Prudential pumped $185,000 into the Republican Party of Florida and $150,000 into the RNC.

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