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...One example is the $137bn New York State Teachers’ Retirement System, which sold 34 private equity holdings with $3.5bn in total commitments on the secondary market at the end of last year....
...Last week, the Financial Times reported the UK was preparing to unveil a new investment vehicle overseen by the state intended to turbocharge pensions funds’ investments in high-growth private companies....
...The New York City and Massachusetts retirement systems, for example, said that they vote based on their own guidelines. However, many do hand off responsibility....
...The giant California public pension plan has now said it will not release its 2023 carbon emission data until 2025....
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...More than half of BlackRock’s $10tn in assets under management are retirement savings, including institutional pension funds, corporate defined contribution plans known as 401(k)s and individual accounts...
...Many large pension funds currently have more money allocated to private equity than their targets, in part because a slowdown in deals and new listings mean that funds are not returning money as quickly...
...Ailman, who has served as CIO of the California State Teachers’ Retirement System since 2000, announced his retirement at a board investment committee meeting on Thursday....
...The world faces a looming “retirement crisis” that requires a rethink of pensions and working patterns as medical breakthroughs boost longevity, BlackRock chief executive Larry Fink has warned in his annual...
...Steven Meier, chief investment officer of the $264bn New York City Employees Retirement Systems, said his fund was expanding into private credit when “everyone else has pulled back”....
...Additional reporting by Antoine Gara in New York...
...Crucially, under their plan, Chileans will still be able to choose private funds to invest their pensions in, though a state-run investing alternative will also be created....
...They’ve seen the value of their shares rise by more than $40bn since the beginning of 2023 as new assets have poured into their firms, writes Antoine Gara in New York....
...“Mutual funds allowed more people to get into the market,” says financial historian Richard Sylla of New York University....
...The writer is a former investment banker in New York, former head of the Chilean wealth fund investment committee and co-author of “The Worth of Art — Financial Tools for the Art Markets” The Chilean pension...
...attract retirement funds....
...Roger Robinson, former chair of the Congressional US-China Economic and Security Review Commission, said the decision “sends a clear message to Wall Street, state pension systems and many others that the...
...Pension fund investors in Blackstone from New York, North Carolina and Denmark were publicly critical, as was the California Public Employees’ Retirement System (Calpers)....
...The California Public Employees’ Retirement System has named Stephen Gilmore, the former chief investment officer of the NZ$73bn (US$43.5bn) New Zealand Superannuation Fund, as its chief investment officer...
...This dichotomy cut through the hustle and bustle at the National Retail Federation’s conference in New York last weekend....
...To nudge banks away from fossil-fuel financing, one of the most vocal pension funds on climate change has wrangled two Wall Street banks into disclosing a ratio comparing their respective levels of financing...
...NYCRS’ $250bn of assets puts it roughly level with the New York State Common Retirement Fund and behind only California’s Calpers and Calstrs among the country’s largest public pension funds....
...The head of France’s development bank and its minister of state for development both pushed hard for a vision of French climate finance leadership when Kaori and I spoke to them in Paris and New York recently...
...York....
...Moon landing: Representatives from Nasa and Intuitive Machines hold a news conference on the Odysseus lunar lander mission. Five more top stories 1....
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