25 States and 3 Fossil Fuel Industry Actors Sue to Block DOL Rule Permitting ESG Investing
The lawsuit seeks an injunction against the rule, set to take effect Monday, which would allow ESG considerations in retirement plan investment decisions.
Newsmakers
NYC Pension Funds Call for Greenhouse Gas Disclosure From 4 Major Banks
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.
State & Municipal Treasurers Publish Letter Encouraging McCarthy to Make Deal on Federal Debt Ceiling
They say a default would be ‘catastrophic’ and devalue portfolios, damaging pension funds and 401(k) plans.
NYC Pension Fund-Led Group Strikes Deal With Apple on Workers’ Rights to Organize
Tech giant agrees to publish independent assessment on employees’ rights to unionize.
CalPERS Commits $1 Billion to Boost Diversity Among Alts Managers
The pension giant is investing $500 million in both TPG’s Next Fund and GCM Grosvenor’s ‘Elevate’ strategy.
Teachers’ Retirement System of Illinois Issues RFP for Investment Consultant
The $60.7 billion pension system is seeking a firm to assist in investment decisions after RVK’s 5-year term expires this year.
Norges Bank Investment Management Launches Climate Advisory Board
Group will advise Norway’s $1.3 trillion sovereign wealth fund on climate-related financial risks.
New York State Comptroller Calls for Political Spending Disclosures
Thomas DiNapoli files shareholder proposals with nine companies held in the state pension fund’s $233.2 billion portfolio.
Agecroft Partners Predicts Top Hedge Fund Industry Trends for 2023
Don Steinbrugge released his top expected trends for the hedge fund industry in 2023.
New York City Retirement Systems Emphasized Sustainable Stakeholder Value in 2022
Comptroller Brad Lander prioritized DEI reporting standards and combated legal opportunistic insider trading at portfolio companies.
UC Investments Gives $4 Billion Boost to Blackstone Real Estate Fund
Investment from $152 billion manager comes one month after BREIT had a run on withdrawals.
Kentucky Treasurer Targets 11 Firms for ‘Energy Company Boycotts’
BlackRock, Citigroup and JPMorgan Chase have all been threatened with state divestment due to alleged fossil-fuel bias.
How Bob Doll Makes His Rather Prescient 10 Annual Predictions
The Wall Street heavyweight’s forecasts for each coming year have done well over three decades, coupling conventional wisdom with unorthodox guesses.
Investors Worldwide Agreed to Class Action Litigation Settlements Totaling More than $7.4 Billion in 2022
Totals rose more than 75% from 2021.