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MandateWire •

NYC pension funds prioritise private markets for climate-related investments

The New York City Retirement System, comprising of five retirement plans with more than $254.4bn in assets, has sharpened its focus on energy transition and decarbonisation investments in private markets. This comes after four of the five plans recently approved higher target allocations to alternatives. Like some other North American pension funds, the city’s retirement system is among a growing number of institutional investors who have plans to advance their climate goals by ramping up allocations to green assets.
MandateWire •

New Mexico State Investment Council looks to illiquid assets for extra return

The New Mexico State Investment Council, which manages $41bn of assets for seven permanent endowment funds, is looking to increase its exposure to illiquid assets in a bid to boost returns. Charles Wollmann, the SIC’s director of communications, legislative and client relations, tells MandateWire that allocations to fixed income have been reduced to allow for more investment in private markets and because the funds’ need for “ballast” has lessened due to large inflows into the portfolios.
RIABiz •

A $10-billion RIA takes risk management to a new level by hiring ex-Wells Fargo chief risk officer to guard against the seen and unseen

Homrich Berg just hired Kruti Bolick after it added $6 billion of AUM since 2015, stretched supply lines to Florida and went into 'evolution mode.'

Just because you're risk averse doesn't mean risk is averse to you -- especially if you're a financial firm with lots of moving parts.

As its AUM odometer ticks over $10 billion--up from just $4 billion in 2015 and $6 billion in 2019--the move is literally off the charts, says Eliza De Pardo, principal of of De Pardo Consulting. See: Michael Kitces

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