LA Pension Fund Commits $75M to 3 Funds
More than half of the allotment was earmarked for a private equity fund targeting European tech firms.
Pensions
New York State Common Retirement Fund Assets Rise to $272.8B With 5.82% Return
The pension slightly missed its long-term benchmark in the fiscal year that ended March 31, while Comptroller Thomas DiNapoli warned of continuing market volatility.
Illinois Municipal Retirement Fund Commits $300M to Real Assets, Alts
The IMRF made commitments with Blue Owl Real Estate, Khosla Ventures, Charlesbank Capital Partners and Great Hill Partners.
PSP Invests More Than $1.5B in Fiber Infrastructure Joint Venture With BCE
The partnership aims to build fiber networks in underserved areas of the U.S.
Rising Discount Rates Push Pension Risk Transfer Costs Lower in April
Transferring retiree assets now costs an estimated 101.1% of a plan’s accumulated benefit obligation.
Aon Advises German Pension Clients of Risks to US Assets
The investment consultant recommended corporate pensions stop making new investments in the U.S.
How to Evaluate the Options for a Corporate Pension Plan in Surplus
Capital Group’s Colyar Pridgen points out efficient ways to utilize a pension surplus.
UK Treasury Provides Guidance on Local Pension Consolidation
The Pension Investment Review aims to consolidate smaller public pension and multiemployer defined contribution pension schemes into ‘megafunds’ to emulate Australian and Canadian investing models.
2nd Circuit Vacates PBGC’s Denial of SFA Funds for NYC Pension
The Pension Benefit Guaranty Corporation had argued that the pension was not entitled to funds because it had already been terminated.
HESTA Dumps Mining Company Mineral Resources Stake due to Governance, Ethics Concerns
The $58 billion Australian superannuation fund also placed WiseTech on its watch list following four board resignations.
$125B Danish Pension Removes Defense Stocks From Blacklist
PFA, Denmark’s largest pension, will allow investments in select defense companies amidst an increase in European defense spending.
LACERA Sues Former Security Officer for Fraud
The Los Angeles County pension fund alleges Carmelo Marquez, who worked on an interim basis, defrauded the organization by giving contracts to companies he owned.
Corporate Pensions Were Best-Performing DB Plans in Q1
Fixed-income-heavy portfolios protected against market volatility, while defined benefit plans returned 0.52% overall.
Rising Discount Rates Drove Down Pension Liabilities in April
Corporate pension funding levels rebounded in April despite equity market volatility.