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.
Tag: New York City Employees’ Retirement System (NYCERS)
Manager Selection
NYC Pension Funds Seek New CIO
The Comptroller’s Office has launched a nationwide search for an investment manager to oversee the city’s $274 billion pension portfolio.
Risk
New York Common, NYCERS, and Penn SERS to Divest Russian Investments
The public pension funds join a growing number of institutional investors pulling their money out of Russia.
Newsmakers
High Inflation Leads to Expensive Cost-of-Living Adjustments for CalPERS and Others
This will be CalPERS’ biggest increase in pension payments in 32 years.
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.
Asset Allocation
Two NYC Pension Funds Divesting $4 Billion from Oil Companies
The move from the largest funds under the $239.8 billion New York City Retirement Systems follows a commitment made in 2018.
Asset Allocation
NYC Comptroller Calls for SEC to Investigate Tyson
The Empire State’s pension system is mounting investor pressure against the poultry giant, which has been criticized for its pandemic safety practices in its plants.
Index-Besotted Institutions Miss Out on Good Deal: Stock Pickers
Sure, passive beats active hollow overall, but ferreting out the market beaters is worth it. Some pension funds heartily agree, some really don’t.
Pensions
Conservative Think Tank Calls for NYC Pension Reform
Manhattan Institute recommends moving to defined contribution plans and consolidating funds.
Newsmakers
NYC Pension Boosts Private Equity Program by $600 Million
Increase raises total assets in emerging managers initiative to $8.8 billion.
Newsmakers
NYC Comptroller Calls on CBS, Alphabet to End ‘Inequitable Practices’
Proposals demand end to nondisclosure agreements and noncompete clauses.
Newsmakers
NYC Comptroller Crowns New Private Equity Chief for Investment Bureau
David Enriquez will handle city’s $12 billion PE portfolio, which spans its five pension systems.