US - The New York State Common Retirement Fund (CRF) invested US$150m combined in private equity and absolute return strategies in October, according to the scheme's monthly transaction report.
State comptroller Thomas DiNapoli said the pension fund invested $100m in the Hudson Clean Energy Partners fund. This is a new relationship for CRF, DiNapoli said.
The investment is part of the pension fund's Green Strategic Investment Programme, which was set up last year to invest $500m over three years. Other investments in the program have included a $200m investment in the FTSE Environmental Technology 50 and HSBC Global Climate Change Index. (Global Pensions; August 19, 2009)
Separately, DiNapoli said CRF invested $50m in the Brevan Howard Fund, a global macro fund, increasing its existing investment with the manager.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
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