Republican gubernatorial candidate Bruce Rauner (ROW'-nur) says money channeled through the Cayman Islands and connected to his business dealings had no impact on his personal tax rate.

Rauner spoke to reporters Sunday, the day a published report detailed how three of his five holdings in the Caribbean were tied to GTCR, a Chicago-based private equity firm he helped found.

Reports compared investments Rauner listed on a state economic disclosure form with the online corporate registry maintained by the Cayman Islands government.

Rauner hasn't been accused of wrongdoing, but political experts have said it's a matter of optics. Democratic Gov. Pat Quinn's campaign has accused Rauner of "stashing" money abroad to avoid paying taxes.

Rauner calls it "political spin" and says voters like his message.