Pension & Investments Daily - January 7, 2005

Submitted by IFS on Sat, 01/01/2005 - 11:00
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The Bureau of Asset Management for the New York City Retirement Systems plans to nearly double its internal investment staff by hiring 40 additional people over the next 18 months to oversee the Systems' allocations to private equity, real estate and possibly hedge funds…. Adam Blumenthal, the city's first deputy comptroller/CFO who also helps oversee the city's $88 billion Systems, said a recent audit conducted by Independent Fiduciary Services suggested that additional personnel were needed.