Asset Allocation
New York City Aims to Build Up Reserves to Gird for AI Disruption
City Comptroller Mark Levine called for the share of tax revenue dedicated to ‘rainy day fund’ assets to rise to 16% from 8.5%.
Tag: New York City
Newsmakers
Steven Meier to Depart as CIO of NYC Pensions
The investment chief of the city’s Bureau of Asset Management is leaving November 7 for an unspecified new opportunity.
Newsmakers
AustralianSuper Taps NYC Pension Deputy CIO
Eneasz Kądziela joins the superannuation fund as senior portfolio manager
Newsmakers
NYC Comptroller Vows to Stick With Climate Plan Amid Net Zero Exodus
Brad Lander says ‘we will not be cowed’ by anti-climate change rhetoric.
Pensions
NYC Pensions Negotiate Worker Safety Deals With Major Telecoms Companies
SBA Communications, American Tower, and Crown Castle have agreed to increase disclosures about tower site safety.
Newsmakers
NYC Comptroller Calls for Executive Clawbacks at Bank of America
Brad Lander also lashed out at BlackRock for appointing the CEO of the Saudi Arabian Oil Co. to its board.
Asset Allocation
NYC Pension Funds Have Reduced Emissions by up to 27% Since 2019
Three of the city’s five funds are looking to reach net zero greenhouse gas emissions by 2040.
Pensions
NYC Pension Funds Call On Chipotle to Adopt Noninterference Policy
Comptroller Brad Lander alleges the company has demonstrated a pattern of anti-union tactics.
Newsmakers
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.
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.
Manager Selection
Alex Doñé, Former NYCRS CIO, Joins Platinum Equity as Managing Director
Doñé left NYCRS after two years as their CIO.
How Much Private Equity Is Too Much for a Public Pension?
‘The bubble has probably already popped,” warns one academic.
Asset Allocation
NYC Comptroller Changes Tune on Pension Funds’ Alt Holdings
Brad Lander wants the city’s pension funds to be able to invest more in alternative assets. Last year he called some of them ‘risky and speculative.’
Pensions
NYC Comptroller: Police Withdrawal of Pension Group ‘Defies Logic’
Scott Stringer also taps Eneasz Kądziela to oversee city pension funds’ $18 billion private equity portfolio.
Pensions
NYC Council Passes IRA Auto-Enrollment Bills
The legislation would establish a mandatory retirement savings program and a board to oversee it.