Australian pension funds are stepping up direct lending to companies, following their global peers into the booming market for private credit in a hunt for higher-yielding assets.
Why are public pension plans so poorly funded? Sure, you can blame politicians’ meddling, or irresponsible benefit increases, or decisions to take contribution holidays, but, to take the Chicago Teachers’ Pension Fund as a case study, it was not designed to be funded in the first place.
Global buyout firm CVC Capital Partners has raised $1.6 billion to invest in growing technology companies, the latest in a wave of similar firms arming themselves with capital to back such businesses.
Avoiding reputational risk drives pension funds to adopt environmental, social and corporate governance (ESG) “principles” more so than it does other types of institutional investors, a survey suggests.
The 2019 contract ratified by 48,000 GM workers in October did not include a retiree bonus that the company has offered in the past. In 2015, it was a one-time $500 payment for retirees.
The number of Texas state and local pension funds achieving Pension Review Board recommendations for overall financial health hit a new high in 2019, according to PRB data analyzed by the Texas Association of Public Employee Retirement Systems. In addition, for the first time in decades, no Texas pension fund has a target rate greater than 8 percent.
Over the past five years, 642 public safety pension funds in the suburbs and downstate have received more than $3.2 billion in investment returns. However, those funds were expected to generate at least $4.1 billion from investments, a nearly $1 billion miss.