Leon Black: A Career-Making 1990 Call and a Career-Ending One in the 2010s
He owes Apollo’s boffo start to the killing he made on an insurer’s then-skanky high-yield bonds. Then came Epstein.
Newsmakers
Two NYC Pension Funds Divesting $4 Billion from Oil Companies
The move from the largest funds under the $239.8 billion New York City Retirement Systems follows a commitment made in 2018.
North Carolina State Pension Returns 11% to End 2020 at Record High
State Treasurer Dale Folwell credits a conservative investment strategy for the fund’s strong performance.
Restoring Pensions from 401(k) Plans Could Cost San Diego Millions
The city might have to retroactively create DB plans for some 4,000 city workers.
NYS Pension Fund Calls for Civil Rights Audit on Amazon
State comptroller calls for third-party audit to asses how retail giant’s policies affect equity, diversity, and inclusion.
Madoff Victims’ Recovery Tops 80% of Losses
Latest distribution of more than $488 million to Bernie Madoff victims hailed as ‘historic result.’
Supreme Court Denies Bondholders’ Claim on Puerto Rico’s Pension Plan
Investors argued that they should get some of the government contributions to the insolvent retirement program.
Ontario Teachers’ Finance Trust Issues First Green Bond
Canadian pension fund issues €750 million 10-year bond earmarked for sustainable investments.
Jerome Powell May Get Extended as Federal Reserve Chief, Say Analysts
The GOP-appointed Fed chair, whose term expires in 2022, has Dem admirers in the Senate.
Institutional Investors Press CEOs to Disclose Climate Lobbying Practices
Group says companies will be held accountable for not aligning with the goals of the Paris Agreement.
How a Trump or Biden Victory Might Affect the Economy
S&P Global Ratings analyzes the candidates’ differences and ‘surprising similarities.’
Chicago Pension President Decries Board’s Culture of Racism, Sexism
Jeffery Blackwell says he has ‘been on the receiving end of sabotage, intimidation, and racist comments’ from colleagues.
The Economy’s OK Without More Federal Aid, Says Fed’s James Bullard
His stance clashes with that of Chair Jerome Powell, a sometime adversary.
Yeah, and Larry Fink Doesn’t Like Remote Work, Either
BlackRock chief says homebound labor stifles cooperation and erodes corporate culture.
Sept 10: Live Conversation with CalPERS’ Anne Simpson and ISS’ Viola Lutz on Climate Risk and Financial Performance
Register now to reserve your space at tomorrow’s CIO's Allocator Insights webinar.