US - New York City Comptroller John Liu said Acadian Asset Management, a Boston company that managed US$646m for three city pension funds, was one of six investment advisers dismissed for poor performance.

US - Five pension funds in New York and Ohio will jointly seek lead plaintiff status in a class action suit against BP, certain officers and directors and BP America, New York comptroller Thomas DiNapoli said.

GLOBAL - Infrastructure managers raised US$6.7bn from global investors in the first quarter, the highest level of fundraising since 2008, but overall deal flow is still at its lowest level since 2006, new research by Preqin showed.

US - Total assets under management at the country's largest 100 state and local pension plans increased by 19% over the year ended March 31, according to data by the US Census Bureau.

US - The California State Teachers' Retirement System posted returns of 12.3% for the year ended June 30 but said losses from the financial crisis remain on the books.

Hewitt Associates will acquire US consulting firm EnnisKnupp, a move Hewitt said sweetened its merger deal with Aon Consulting announced less than two weeks ago.

US - Hewitt Associates will acquire US consulting firm EnnisKnupp, a move Hewitt said sweetened its merger deal with Aon Consulting announced less than two weeks ago.

US - The American International Group has agreed to pay US$725m to settle a class action suit brought by three Ohio pension funds alleging bid-rigging, stock price manipulation and accounting fraud.

GLOBAL - BlackRock has restructured its management team creating a new head of portfolio management role, three new regional organisations and an alternatives investment group.

BlackRock has restructured its management team creating a new head of portfolio management role, three new regional organisations and an alternatives investment group.