Institutional Investors

NYC pension trustees set to move forward

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The $96 billion New York City Employees' Retirement System has had a few setbacks in its plan to add hedge funds to its portfolio, but post the 2009 election cycle it seems that trustees are poised to move forward.

Trustees of the pension funds include Mayor Bloomberg, his commissioners, and representatives and appointees from labour unions. The funds are: the New York City Employees' Retirement System, the Teachers' Retirement System, the New York City Police Pension Fund, the New York City Fire Department Pension Fund and the Board of Education Retirement System.

The board is likely to hear from