NYC Pension Rejects Stake in Fund Run by Charter School Backer
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New York City’s $54 billion pension for civil employees rejected a recommendation by the comptroller’s office to invest in a hedge fund run by one of the biggest financial backers of charter schools.
The New York City Employees Retirement System, whose members include lunchroom workers and other school aides, voted against the $49 million investment with Joel Greenblatt’s Gotham Asset Management LLC, according to records obtained under a freedom-of-information request after Comptroller Scott Stringer and the pension fund declined to disclose the vote results.