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.
News
News From Davos: Goldman’s Solomon, ECB’s Lagarde Tout Government Stimulus
In Washington, there’s a fight over more relief, as the European Union just passed a huge aid measure.
BlackRock Looks to Add Bitcoin Futures to Two Funds
The world’s largest asset manager is also seeking a head of blockchain investments.
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.
Breaking News from Davos: China’s Xi Calls for Multilateralism in Keynote Speech
Chinese leader says there is a need to balance COVID-19 responses with economic development.
Bitcoin Will Never Be Real Money, Says UBS, Because It’s Too Volatile
Cryptocurrency isn’t a stable source of value, so people can’t depend on it, the bank’s top economist charges.
Ontario Teachers’ Joins Net-Zero Climate Pledge for 2050
The Canadian pension fund will establish defined portfolio targets in the coming months.
Indiana Roofers Pension Applies to Treasury for Benefits Cuts
Trustees of Roofers Local No. 88 propose a 10% reduction in benefits across the board.
US Public Pensions’ Funded Ratio Soars to Record in Q4
The number of plans with funded levels above 90% nearly doubled during the final quarter of 2020.
Veteran Series: Chris Ailman—‘A World Class Asset Manager’
Two decades into his tenure, the investment chief continues to lead US public pension funds into the future.
Biden Logs Best Market Showing Between Election and Inauguration
Big question: Will it keep going? Herbert Hoover’s showing was pretty good, too.
Democrats Introduce Bill to Protect Pensions, Expand PGBC’s Power
Proposed legislation would create PBGC partition program and end ability to seek benefits cuts under MPRA.
Texas Tech DCIO Dan Parker to Leave Endowment
The investor will take a senior position at a firm he says ‘will be familiar’ to investors.
Special Report: What Low-Paying Fixed Income Still Gives Us: Ballast
Despite small interest payments and not much price appreciation potential, many investors say it does deliver in this one area.
Special Report: Why Pennsylvania SERS is Moving Toward a Liability-Driven Benchmark
New CIO Seth Kelly is hiking the fund's asset allocation to fixed income.