IA Strategy: Minnesota Endorses $1B Private-Markets Recommendation

The Investment Advisory Council of the Minnesota State Board of Investment (MSBI) has given the thumbs up to a staff recommendation that MSBI make commitments to eight private equity funds, totaling approximately $1 billion.    At a May 20 meeting, the Investment Advisory Council, which provides advice to the $96 billion MSBI and its Executive Director, …

Virginia Says Hello, Goodbye to Managers to Tune of $1.4B

The Virginia Retirement System (VRS) in Richmond has since February terminated asset managers handling accounts within its credit-strategies program, and committed assets to two new managers, amounting to $1.4 billion in transactions. The hires and fires we reported to the fund’s board at its May 13 meeting. “The hiring and terminations presented…were not related to …

Texas ERS, PAAMCO Begin Building Applicant Pipeline for HF Seeding Platform

An innovative joint-venture, emerging hedge fund seeding and support platform launched by the approximately $28.5 billion Employees Retirement System of Texas (ERS) and Pacific Alternative Asset Management Company (PAAMCO) during the summer, has whittled a field of hundreds of emerging firms vying to participate in the platform down to an initial “pipeline” of 35 firms, …

Cybersecurity is a Bigger ESG Concern for Institutions than Climate Change, Terrorism

“Cybersecurity risk is now a board-level concern, and how companies both prepare and react – or don’t – can have long-term implications on share value,” Jennifer Peet, corporate governance director for the Office of Oregon Treasurer and the Oregon Public Employees’ Retirement Fund told IA’s Kaitlyn Mitchell. “Cybersecurity has been a growing concern for several …

MSBI CIO Mansco Perry Brings Investments Back to the Basics

Reporter Kaitlyn Mitchell recently spoke with Mansco Perry, longtime executive director and chief investment officer (CIO) of the $93.5 billion Minnesota State Board of Investment (MSBI). Perry has had a long career in financial analysis, and has overseen MSBI through excellent returns in his time with the fund—in 2017, the fund had a 15.1% return, …

NYC Pension Funds’ Push for Board Diversity Yields Impressive Results

The New York City Pension Funds’ (NYC Funds) “Boardroom Accountability Project 2.0” (BAP 2.0), an initiative that pushes for electing more diverse directors on the boards of public companies, has achieved engagement with over 85 of the 151 U.S. companies it has targeted, since the inception of the campaign. Over 35 of those companies are …

AIC Taps New Chairman; Mass PRIT Tops 2018 Public Pension Study

The American Investment Council (AIC) has elected Steve Klinsky as chairman of its board of directors. Klinsky is the founder and chief executive officer of New York-based New Mountain Capital, a growth-oriented private equity firm that manages more than $20 billion of assets. Separately, AIC recently released its 2018 Public Pension Study, with the Massachusetts …