Manager Selection
NYC Comptroller Hires Diversity, Equity, Inclusion Director
Taffi Ayodele will lead office’s strategy to expand engagement and allocations to minority and women-owned firms.
Tag: New York City Employees’ Retirement System (NYCERS)
Asset Allocation
NYC Pension Launches Dashboard, Reveals 25% Alts Allocation
The city’s five pension funds have $61.5 billion invested in private equity, alternative credit, and private real estate combined.
Newsmakers
Steven Meier Named CIO of New York City Pension System
He succeeds Michael Haddad to become the first permanent CIO of NYCRS since Alex Doñé left in December.
Manager Selection
NYC’s Comptroller Is Launching an Internal Review Following Former CIO’s Move to Asset Manager
Alex Doñé must wait at least a year after leaving before he can pitch former colleagues.
Manager Selection
NYC Pension Funds Seek New CIO
The Comptroller’s Office has launched a nationwide search for an investment manager to oversee the city’s $274 billion pension portfolio.
Risk
New York Common, NYCERS, and Penn SERS to Divest Russian Investments
The public pension funds join a growing number of institutional investors pulling their money out of Russia.
Newsmakers
High Inflation Leads to Expensive Cost-of-Living Adjustments for CalPERS and Others
This will be CalPERS’ biggest increase in pension payments in 32 years.
Asset Management Culture
New York City Comptroller: Ax Rule Forcing Private Equity to Pay Legal Bills
Mandate now forces PE operators to cover their own litigation tabs in disputes, instead of passing along the costs to NYC pension fund investors.
Pensions
New York City Mulls Lowering Investment Return Targets to 6.8%
A reduction would help the pension system better match projected investment returns.
Asset Allocation
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.
Asset Allocation
NYC Comptroller Calls for SEC to Investigate Tyson
The Empire State’s pension system is mounting investor pressure against the poultry giant, which has been criticized for its pandemic safety practices in its plants.
Index-Besotted Institutions Miss Out on Good Deal: Stock Pickers
Sure, passive beats active hollow overall, but ferreting out the market beaters is worth it. Some pension funds heartily agree, some really don’t.
Pensions
Conservative Think Tank Calls for NYC Pension Reform
Manhattan Institute recommends moving to defined contribution plans and consolidating funds.
Newsmakers
NYC Pension Boosts Private Equity Program by $600 Million
Increase raises total assets in emerging managers initiative to $8.8 billion.
Newsmakers
NYC Comptroller Calls on CBS, Alphabet to End ‘Inequitable Practices’
Proposals demand end to nondisclosure agreements and noncompete clauses.