NY Pension Fund Enters $2B Partnership with Goldman Sachs
New York State’s main public pension is benefiting an American multinational investment banking firm Goldman Sachs Asset Management $2 billion to invest in global stocks.
The
New York State Common Retirement Fund has charged the bank with hiring
seven or eight outside hedge funds focused on markets outside of the
U.S. It is Goldman’s largest-ever such asset-allocation deal.
Goldman
and the $181 billion pension had been in talks about the arrangement
for a year-and-a-half. And New York State Comptroller Thomas DiNapoli
said the system is in discussions with other firms about similar deals,
as well as with Goldman about sustainable investment options.
Source: FINalternatives
