Pensions
NYCERS Becomes 89th Member of Net-Zero Asset Owner Alliance
Only seven other U.S. institutional investors have joined the group, which aims to align its portfolios to meet the Paris Agreement’s climate targets.
Tag: New York City Employees’ Retirement System
Alternatives
NYC Comptroller Lander Proposes Excluding Fossil Fuels From Future Infrastructure, Private Equity Investments
The proposal for three New York City pension funds would expand divestment to fossil fuel reserve owners and private markets infrastructure, such as pipelines and distribution terminals.
News
Public Equities, AI Tech Firms Spur 10% Rise for NYC’s Pension Funds
The aggregate value of the city’s five pension funds rose to more than $274 billion in fiscal 2024.
Pensions
NYC Pension Adopts ‘First in Nation’ Guidelines for Private Real Estate Investments
The Responsible Property Management Standards are intended to increase the quality and sustainability of residential real estate investments across seven core principles.
Pensions
NYC Pensions Fail to Persuade BlackRock Shareholders to Eject Aramco CEO From Board
Despite objections, Amin Nasser was not only overwhelmingly re-elected to BlackRock’s board, but he received nearly 3 million more votes than Chairman Larry Fink.
Pensions
NYC Pensions Oppose Tesla Executive Pay Package
New York City Comptroller Brad Lander and seven other investment firms oppose Elon Musk’s proposed $56 billion pay package.
Corporate Moves
NYC Pensions Reach Climate Disclosure Deal With JPMorgan Chase, Citigroup, RBC
City Comptroller Brad Lander said he expects energy supply ratio disclosure will become a ‘new standard’ for the banking sector.
Risk
New York, Oregon Pension Funds Sue Fox Corp. for Opening Itself Up to Lawsuits
Fox recently settled for $787 million a lawsuit from Dominion Voting Systems.
Asset Allocation
NYC Pension Funds Have Reduced Emissions by up to 27% Since 2019
Three of the city’s five funds are looking to reach net zero greenhouse gas emissions by 2040.
Newsmakers
NYC Pension Funds Call for Greenhouse Gas Disclosure From 4 Major Banks
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.
Newsmakers
New York City Retirement Systems Emphasized Sustainable Stakeholder Value in 2022
Comptroller Brad Lander prioritized DEI reporting standards and combated legal opportunistic insider trading at portfolio companies.
Asset Allocation
NYC Pension Launches Dashboard, Reveals 25% Alts Allocation
The city’s five pension funds have $61.5 billion invested in private equity, alternative credit, and private real estate combined.
Manager Selection
NYC’s Comptroller Is Launching an Internal Review Following Former CIO’s Move to Asset Manager
Alex Doñé must wait at least a year after leaving before he can pitch former colleagues.
Asset Management Culture
New York City Comptroller: Ax Rule Forcing Private Equity to Pay Legal Bills
Mandate now forces PE operators to cover their own litigation tabs in disputes, instead of passing along the costs to NYC pension fund investors.
Pensions
New York City Mulls Lowering Investment Return Targets to 6.8%
A reduction would help the pension system better match projected investment returns.