Defined benefit plans
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CalPERS reports seven times more in net gains vs. carried interest over 25 years
trueCalPERS said Tuesday in a long-awaited disclosure that since 1990 it had paid $3.4 billion in carried interest performance fees to private equity managers but had received $24.4 billion in net gains over that period.
New Jersey to disclose 5-year history of fees, performance data
trueNew Jersey State Investment Council, which oversees the policies governing the $79 billion New Jersey Pension Fund, has voted to report a five-year history of fees and performance data for the pension fund’s investments.
Ontario Teachers, proxy firms take opposing sides on BT Investment Management pay
trueBT Investment Management Ltd. faces opposition to its remuneration of its CEO and other top executives from Ontario Teachers’ Pension Plan, while Institutional Shareholder Services and Glass Lewis support the pay package.
New York State Common posts 4.13% loss in quarter
trueNew York State Common Retirement Fund, Albany, returned -4.13% for the three months ended Sept. 30, the second quarter of the pension fund’s fiscal year.
AIMCo to work with clients to address new provincial climate change policy
trueAlberta Investment Management Corp. plans to work with its constituent funds to determine the implications on its C$83.9 billion ($63 billion) in assets of new provincial climate change goals to move more to renewable energy and away from carbon-based sources.
London Pensions Collective Investment Vehicle selects first 4 equity managers
trueLondon Pensions Collective Investment Vehicle hired four equity managers.
Texas County & District commits $80 million to TSG funds
trueTexas County & District Retirement System committed $64 million to TSG7 A and $16 million to TSG7 B.
Ashland pays out $475 million as part of lump-sum, reduced annuity offer
trueAshland Inc. announced it paid out $475 million to participants in its U.S. defined benefit plans who accepted the company’s lump-sum or immediate reduced annuity offer.
Contra Costa County wants new deputy CEO
trueContra Costa County Employees' Retirement Association is searching for a deputy CEO.
Louisiana State Employees names 3 to shortlist to run international equity
trueLouisiana State Employees’ Retirement System named Copper Rock Capital Partners, Goldman Sachs Asset Management and Thompson, Siegel & Walmsley as finalists in its shortlist search for two active international small-cap equity managers to run a total of up to $495 million.
Fresno City Retirement Systems hires new administrator
trueRobert T. Theller was named retirement administrator at Fresno (Calif.) City Retirement Systems, effective Jan. 11.
Detroit pension funds clean up books as they ready for new investments
trueDetroit's two pension funds are poised to invest money for the first time since the city emerged from bankruptcy and a public corruption scandal cost retirees more than $97 million.
Massachusetts Water pension plan scouting for international equity managers
trueMassachusetts Water Resource Authority Employees’ Retirement System is searching for international core/value equity managers to run up to $30 million.
LACERA invests $300 million in credit hedge fund of funds, commits $206 million
trueLos Angeles County Employees Retirement Association invested $300 million in a customized opportunistic credit hedge fund-of-funds portfolio managed by Grosvenor Capital Management.
Worcester Retirement seeking infrastructure manager
trueWorcester (Mass.) Retirement System is searching for an infrastructure manager to run about $10 million to $15 million.