NYC Comptroller wants another $27bn in alts

New York City Comptroller Brad Lander is pressing state lawmakers to raise the ceiling on the proportion of their assets the city’s public pension funds can invest in alternative asset classes.

Should lawmakers accept Lander’s arguments, the funds would be free to invest an additional $27 billion in alternative assets.

New York City’s Chief Financial Officer Lander is investment advisor to and custodian of assets of the city’s five public pension funds, which aggregate approximately $274 billion. He is also a trustee to four of the five city pension funds.  . . .

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Mark Fortune

Mark Fortune has more than 30 years of experience as a financial writer and editor, with a focus on institutional investment management. He has worked in various editorial roles at organizations that include Institutional Investor, Pageant Media, Markets Group and, most recently, at New York investment management firm Cohen & Steers.

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