WSJ: Public Pensions Increase Private-Equity Investments
Public Pensions Increase Private-Equity Investments
By MICHAEL CORKERY
Large public pension plans are pouring more money into private-equity funds, deepening ties between government workers and an industry currently under the harsh glare of U.S. presidential politics.
Big public-employee pensions had about $220 billion invested in private equity in September, or 11% of their assets, according to Wilshire Trust Universe Comparison Service, which tracks the holdings of pensions, foundations and endowments.
That is up about $50 billion from a year earlier, when such investments accounted for 8.6% of large pension funds’ assets. A decade ago, pensions with at least $1 billion under management had just 3% of their money with private equity.
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