New York state lawmakers are being urged by New York City Comptroller Brad Lander to approve raising the ceiling on the amount of public pension fund assets that can be allocated to alternative investments by USD27 billion, according to a report by AlternativesWatch.
New York City has five public pension funds, which collectively have USD274 billion in assets, and Lander serves as investment advisor and custodian of assets to each.
The alternatives cap is currently set at 25 per cent but Lander would like it rated to 35 per cent arguing that private equity, private credit, and real assets, promise potentially higher returns than the exiting investment allocations.
