Institutional Investors

New York City swells commitment to minority firms

by

John Liu
The $115 billion New York City pension funds plan to expand their commitment to minority and women investment managers by $500 million.

The pension funds’ new allocation is on top of the $6 billion already under management by minority and women investment managers. The New York City Comptroller John Liu announced the commitment at a symposium that brought together the pension system’s asset managers with brokers from the funds’ minority broker pool. The pool is designed to enhance the use of minority brokerage firms and the Comptroller’s office expanded the pool to 37