Tag: private equity

Legislator wants to reduce risky investments in pension fund

A legislator who has spent his career as a financial advisor and investor is seeking to force the state pension system to limit what he sees as risky investments in private equity, hedge funds and other alternative assets.

The investment managers at the State Retirement Agency told the House Appropriations Committee Tuesday that Del. Steve Schuh’s legislation, HB819, will mean lower returns on investment and less diversification for the $38 billion fund that pays for pensions for teachers and state employees.

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