State Treasurer Sings a New Tune on Private Equity
Elizabeth Steiner says she supports reducing state pension fund investment in the underperforming assets.
This story was produced by the Oregon Journalism Project, a nonprofit newsroom covering the state.
In an unusual public letter to the Oregon Investment Council, State Treasurer Elizabeth Steiner said she supports trimming $6 billion in private equity assets from the Oregon Public Employees Retirement Fund.
“While it is true that private equity has added significant value to our funds, I agree with the OIC and staff’s decision to reduce our overall allocation in this asset class,”
she wrote. Steiner’s letter signals a concession to critics and a significant shift in how state officials invest the $100 billion retirement contributions of 415,000 current and retired public employees.
Author's summary: Treasurer supports reducing private equity investments.
More News
- Hellenic Post CEO resigns following pressure by ruling party MPs
- Could We Radically Redesign Homelessness Services Around Outcomes? (SSIR)
- Tom Cullen: “Why are men so angry?”
- What 50 years of buried data tell us about Canada’s mining oversight
- Election Day: What is California Prop 50 and where to vote
- Is Jonathan Bailey Married? A Deep Dive Into His Low-Key Love Life