NYC Pensions Bet on Private Equity for Higher Returns themiddlemarket.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themiddlemarket.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Four of New York City’s five public employee pension funds are boosting their allocations to illiquid investments like private equity in an effort to hit an annual investment return goal.Most Read from BloombergBoeing Slumps After Panel Blowout Leads to Partial 737 GroundingMusk’s Drug Use Concerns Tesla, SpaceX Leaders, WSJ SaysChina Says It Caught Foreign Consultant Spying for UK’s MI6Boards of directors for the retirement funds for teachers, police officers, firefighters and ci
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While the assets held by the Maryland State Retirement and Pension System have more than doubled to $64 billion in the past 20 years, the investment management fees the system pays have skyrocketed 25 times to $1 billion a year as it's pursued a more active investment strategy with increased exposure to private equity funds.