LPs like emerging managers as a source of outsized returns. However, LPs also view them as risky, and the decision to back a new team is made tougher when incumbents are returning to market quicker and with many products.
Billionaire Melinda French Gates is still promising to give away most of her wealth—just not necessarily all to the Gates Foundation she started with her ex-husband.
As inflation and tight labor markets create uncertainty in the year to come, the state’s pension fund closed the calendar year in December at a record high $104.3 billion.
Providence Mayor Jorge Elorza will once again ask state lawmakers to approve hundreds of millions of dollars in borrowing to rescue the city’s ailing pension fund, but this time with a smaller price tag and a plan to ask city voters for their approval.
In a secret session and after the circulation of a controversial non-disclosure agreement, the board of Pennsylvania’s embattled teachers’ pension fund is finally learning the results of a months-long internal review into its exaggerated profit figure and questions about its purchase of Harrisburg real estate.