New York State Common Retirement Fund related stories
All articles and analysis
New York Common eyes UK distressThe $110bn pension fund has committed $30m to the Mountgrange Real Estate Opportunity Fund I through its funds of funds investment with Franklin Templeton’s Lake Montauk vehicle. The Mountgrange fund closed in May on £300m and will target under-performing assets as well as land deals.
- Quadrangle’s Rattner, Margolis surface at Willett Advisors
Steven Rattner and Howard Margolis will join the family foundation of New York mayor Michael Bloomberg, alongside 18 other former Quadrangle employees.
- Former New York CIO pleads guilty
David Loglisci, one of the central figures in a wide-ranging pension pay-to-play scandal, said he was instructed by 'senior officials' to only approve investment managers given the okay by political operative Hank Morris.
- Wetherly settles with Cuomo, exits placement business
The Los Angeles-based firm will pay $1m to the New York Common pension fund and has agreed to exit the placement business.
- NYC comptroller lifts placement agent ban
Placement agents are once again allowed to interact with New York City pension systems – so long as they comply with strict accreditation and disclosure rules.
- Bloomberg to withdraw $5bn from Quadrangle
The Quadrangle team managing $5bn of Mayor Bloomberg’s personal fortune will spin out into an independent entity.
- California firms agree placement ban
In relation to the pay-to-play scandal, Ares and Freeman Spogli have signed on to New York Attorney General Andrew Cuomo’s code of conduct that prohibits the use of placement agents.
- New York ploughs $150m into PPIP funds
Invesco and Oaktree have secured commitments from the $126bn New York State Common Retirement Fund. The pension also committed $160m to four private equity funds.
- Comment period on SEC placement agent ban ends
The Commission will now evaluate the 170 comments it has received - most of which were critical of the proposal.
- Report: SEC rethinking placement ban
The SEC has said in a letter to FINRA that it may exempt registered-broker dealers from its proposed ban on placement agents interacting with public pensions.