New Mexico State Investment Council related stories
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Aldus business teeters as firm lambasts SECThe $20bn Connecticut state pension is the latest in a list of US pensions that have ended their relationship with Aldus Equity after the Dallas firm’s founder, Saul Meyer, was indicted for allegedly taking part in a kick-back scheme. Aldus’ lawyer yesterday rebuked the SEC as being ‘careless’ for naming the firm in a related complaint.
- New York comptroller sues embattled Aldus for fraud
Thomas DiNapoli, New York's comptroller in charge of the $122bn New York State Common Retirement Fund, seeks reimbursement of more than $5m in fees paid and other damages from Aldus. The Dallas-based firm is accused of taking part in a kick-back scandal involving the New York Common.
- New York State Common bans all placement agents
The state’s comptroller, Thomas DiNapoli, has banned the use of placement agents in investments with the $122bn pension, and has launched a review of pension investments with firms involved in the New York Common kick-back scandal.
- LACERS, New Mexico draft placement fee disclosure policies
As a kick-back scandal involving several public pensions grows in the US, LACERS is the latest pension to draft a disclosure policy for placement agents and other third-party marketers.
- Aldus founder arrested as NY probe widens
New York’s Attorney General Andrew Cuomo has indicted Saul Meyer for allegedly making illegal payments to Henry Morris in exchange for business with the $122bn New York State Common Retirement Fund. Cuomo said he will soon pursue other 'manifestations' of corruption in the US public pension investment market.
- Scandal-tied New Mexico reviews new commitments
New Mexico State Investment Council may place on hold $60m in commitments to funds being raised by Landmark and New Stone Capital as it investigates finder’s fees paid by private equity advisor Aldus Equity, which the endowment suspended following the emergence of an alleged New York State Common Retirement Fund pay-to-play scheme.
- Indiana commits more than $300m to private equity and real estate
The pension, with assets of $16bn as of 30 June, 2008, made commitments in the past month to firms including Germany-based Triton Advisors and mezzanine firm Falcon Investment Advisors.
- New Mexico suspends Aldus for alleged links to NY scandal
The $11.5bn New Mexico State Investment Council has temporarily suspended Aldus as it reviews its advisory work and is investigating whether any of its other consultants or GPs have links with third-party marketing firms. SIC has already discovered that Carlyle and Quadrangle used a company affiliated with the New York Common scandal to secure money from the state oil and gas endowment.
- Vicente expands debut fund to $165m
The Los Angeles-based firm has added the State of Connecticut and Credit Suisse to its list of investors.
- Technology Crossover pulls in $1.4bn for Fund VI
Palo Alto-based Technology Crossover Ventures corralled $1.4 billion (€1.19 million) for its latest fund. The fundraise represents a 55 percent jump over its predecessor fund, but still does not match the $1.7 billion raised in 1999.