The amount of investment needed for this enormous task is $4 trillion yearly, but the effort is gearing up now.
The New York State Common Retirement Fund exited more than $4.4 billion worth of public equity investments during the first 11 months of 2023, moving more into private equity and emerging managers.
Moody’s warns that a prolonged conflict could hurt the country’s credit rating.
The position will report to the director of emerging managers, while the pension giant is also seeking an assistant counsel for investments.
The $254.1 billion pension giant also committed nearly $1 billion in July to a pair of investments within its credit portfolio.
The fund’s asset value rose to $254.1 billion, a big improvement from the prior-year period.
It’s trickier for some, like the Norwegian program, which is funded by North Sea oil.
Nearly half of the commitments were made to three private equity funds.
Notable among the pension giant’s outlays was a $1 billion investment in a fund managed by Khosla Ventures.
State Comptroller Thomas DiNapoli warns that firms ‘that engage in political spending risk damaging their reputations.’
One in three shareholders, including pension funds like CalPERS, opposed the online retail giant at its annual meeting on such issues as executive pay.
Nearly $900 million has been earmarked for investments with the pension giant’s credit portfolio.
Although seldom apparent in financial statements, environmental, social and governance deficiencies can come out of nowhere and slam investors.