New York Pension Funds May Finance Post-Sandy Housing, Liu Says
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New York Comptroller John Liu said he wants to let the city’s public pension funds invest millions of dollars to finance or own housing for people displaced by Hurricane Sandy.
Liu, a 45-year-old Democrat who may run for mayor next year, said he intends to submit the proposal to board members of the city’s five pension funds, which held assets valued at $128 billion on Sept. 30. If they accept the plan, the specifics would be announced in the next few weeks, he said. The comptroller serves as custodian and investment adviser to the funds.