The New York State Common Retirement Fund's value soared 14.6 percent for the fiscal year ending March 31, 2011, its second consecutive double-digit jump and almost enough to bring it to the high water mark it reached several years ago. New York State Comptroller Thomas P. DiNapoli on Thursday released an estimate of the fund's value of $146.5 billion, the highest since the global economic downturn in fiscal 2008-2009.
By using one-time-only fund transfers, city officials presented the Common Council with a 2012 budget Wednesday that reduces the property tax rate, but substantially raises the amount to be collected in taxes. Moves that included reductions in health insurance and workers' compensation costs and the spending of some money that had been stashed in reserve funds produced a tax rate of $15.02 per $1,000 of assessed valuation. That's down from last year's $15.25.
In the private equity world, partnership agreements have received praise from many corners for reducing the agency costs arising between the interests of fund managers and investors. This article sets out to assess contract design in private equity partnerships. The argument here is that the importance of many of these heralded contract design features has been overstated. Part II describes the legal rights of investors in private equity funds. By default, investors in private limited partnerships have limited rights to participate in day-to-day operations or challenge decisions of fund managers. As a result of this set of default legal rules, investors in these funds face a familiar agency problem. That is, fund managers may be emboldened to pursue their own self-interest at the expens...
... A recent study shows that one of the most common methods employs a fixed percentage of the amount t...
For the first time since March 2009, the New York State Common Retirement Fund has made an investment in a Long Island-based company. The company, PACS Industries in Great Neck, which manufactures high-voltage circuit breakers and other electrical equipment, received a capital infusion of $3.6 million from the common retirement fund's in-state private equity program in a deal that closed late February. The private equity firm handling the deal, Rochester-based Delta Point Capital Management, will also channel an additional $3.6 million to PACS Industries, for a total investment of $7.2 million, said Christopher Brodhead, the vice president of business development for Delta Point.
... Janus Capital Management LLC (JCM), a mutual fund investmentadviser, can be held liable in a private...4 (quoting a news item reporting a statement by Basic's president). ... the Rule's word "make." Neither common Englishnor this Court's earlier cases limit ...
The state's Common Retirement Fund, which lost about $30 billion between April and October last year, saw its losses slow dramatically in recent months, shrinking by only about $2.3 billion in the last quarter of last year, a spokesman for Comptroller Thomas DiNapoli said. DiNapoli, the fund's sole trustee, has warned that rates paid into the fund by taxpayers are likely to go up after 2011.
The New York State Common Retirement Fund on Monday announced the allocation of $15 million to create the High Peaks Seed Venture Fund, the fund's preliminary Appleseed Initiative, set up to target early-stage and seed private equity investments statewide. While so many innovative ideas are conceived in New York state, the opportunities to make these ideas into reality are often outside of New York's borders," Comptroller Thomas DiNapoli said in a statement.
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The New York State Common Retirement Fund is investing an additional $500,000 in OyaGen, Inc., a Rochester-based bio- pharmaceutical company focused on drug treatments for HIV/AIDs and other viral diseases. State Comptroller Thomas P. DiNapoli appeared in Rochester Friday to announce investment is being made through the Fund's investment partner Trillium Group, LLC, which is also based in Rochester.
...(Copyright 2010 Dolan Media Newswires)Provided by ProQuest LLC. All Rights Reserved....
The New York State Common Retirement Fund has decide to invest $200 million of its assets in the FTSE Environmental Technology 50 and the HSBC Global Climate Change Index, two indexes comprise of companies in the growing green sector. State Comptroller Thomas DiNapoli said the investment was made under the fund's Green Strategic Investment Program.
News Advisory: Common Cause, Public Campaign Action Fund, Public Citizen and the U.S. Public Interest Research Group will announce a major initiative to build public and political support for comprehensive public financing of congressional campaigns. As a major component of this initiative, reform leaders will unveil the "Voters First Pledge," which will include specific policies to make elections fair, restore accountability, and protect voters' right-to-know. This pledge will be used by activists in districts across the country to press candidates for federal office to support a comprehensive agenda to clean up Congress.
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