Thursday, 2 April 2015
Last updated 36 min ago
Apr 28 2014 | 9:40am ET
New York City’s public pension funds will add $1 billion to bolster their rosters of emerging alternative investments managers.
The New York City Retirement System plans to increase its emerging managers program to $14 billion. Some $10 billion of that is already committed to minority- and women-owned firms, and others are likely to be beneficiaries of the new allocation.
“It’s been a struggle to get emerging managers in the door, but we want to bring more in,” Comptroller Scott Stringer said. Among the issues may be the city’s policy of terminating mandates once an emerging manager’s assets top $2 billion; the city is working on a plan to continue its relationship with successful emerging managers who grow out of the program.
“We want to get at a broader range of managers and servicers, and we want to see diversity on the investment teams,” Stringer said.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…