New York State Common Retirement Fund related stories
All articles and analysis
LPs struggle to tell placement agents from findersAs events in the US draw the conduct of placement agents into the limelight, research conducted by PEI Media shows that many LPs find it hard to tell the genuine article from the so-called 'finders'.
- Shifting shape
A new document from the New York attorney general reveals PCG saw its share of economics in a controversial co-investment vehicle drop dramatically after an employee switched to another firm and took control of the fund’s management. Chris Witkowsky explores.
- PCG to pay $2m to settle with New York in pension scandal
An affiliate of the California-based gatekeeper was a minority partner in a co-investment fund accused of kicking back illegal fees for a $750m commitment from New York State Common Retirement Fund.
- Riverstone co-founder is ‘continuing matter’ for Cuomo
In announcing a $30m ‘restitution’ to be paid by the private equity firm, the New York state attorney general today noted that the agreement does not include David Leuschen, one of Riverstone’s two co-founders. Cuomo promised that ‘new developments will be coming down the road’.
- Pension boss: ‘Placement agents serve a purpose’
As some US public pensions move to ban the use of placement agents, Mike Travaglini, the executive director of the $38bn Massachusetts PRIM, told PEO that these agents play a vital role in helping his small staff identify private equity opportunities.
- SEC widens kick-back probe to examine pensions, financial firms
Goldman, Credit Suisse, UBS and Merrill Lynch are reportedly among the firms from which the US financial regulatory agency has requested information about work done in exchange for fees.
- US government joins growing pay-to-play investigation
The US attorney in New Mexico is demanding documents from New Mexico’s $11.8bn State Investment Council relating to investment activity and specifically in connection to Aldus Equity, the embattled financial advisor caught up in pension pay-to-play scandal rocking the private equity world.
- Former Park Hill exec pleads guilty in kick-back scandal
Julio Ramirez, who left Blackstone-affiliated placement agent Park Hill in March, has pleaded guilty to securities fraud. The allegations stem from the time Ramirez was employed by Wetherly Capital, prior to joining Park Hill; Blackstone told PEO its internal investigation revealed no misconduct at Park Hill.
- NY Common forges ahead with private equity
The $122bn pension committed $125m to DFJ Gotham Ventures II and the PCGI/NYSCRF Emerging Europe Fund. The pension also announced it was searching for a new manager for its emerging mangers fund that was formerly run by embattled Aldus Equity.
- New Mexico SIC suspends alternative investing
New Mexico’s governor Bill Richardson ordered the state’s $11.8bn oil and gas endowment to suspend investing in private equity and real estate while the endowment reviews investment recommendations made by Aldus Equity. Recommended commitments to Landmark Equity, Newstone Capital, Veronis Suhler Stevenson and Ares Management will have to go through a 'vetting' process again.