US - Pension fund money could help stabilise the financial markets following the New Jersey Investment Division's commitment to buying convertible preferred shares in two giant financial institutions.
John A Thain, chairman and CEO, Merrill Lynch, said: "The benefits of Merrill Lynch's collaboration with these high-quality, long term investors are significant."
Thain added: "Through their global reach and diverse client relationships, we are looking forward to more strategic opportunities around the world."
Assets under management for the New Jersey Investment Division topped $81.3bn and the end of December 2007.
The division manages the assets of seven public funds.
As of 31 December 2007 the funds' assets were allocated 28.9% to domestic equity, 22.7% domestic fixed income and 17.4% to an international portfolio.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers