Fear of a downturn creates a rise in de-risking.

Fund blames first negative quarter since 2015 on falling global equities.

The 2008 credit crisis highlighted the risks associated with having large sums of money invested in opaque, illiquid assets. Nine years later, little has changed to improve transparency in the alternative investments marketplace. 

Three bills aimed at lowering state pensions costs are shot down by Senate committee.

Second close is expected to net another $750 million.

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