North Dakota puts Adam Street on watch

Reduced transparency places North Dakota in a disadvantageous position compared to other investors.

North Dakota Retirement and Investment Office’s staff is putting Adams Street on watch due to increasing concerns over transparency. Future investments in the asset class will be paused in order for the firm to reconsider two further fund managers for future partnership.

The $9 billion US public pension has a 7 percent target allocation to private equity that currently stands at 1.1 percent.

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