Investments: The New York City Retirement Systems, which manage the investments of the city's five pension plans, almost had a feisty boss in Eliot Spitzer, the disgraced former New York governor who ran for the post of comptroller last year promising to reign in Wall Street excess.
Instead, it got Scott Stringer, a comparatively non-confrontational politician who has gone about investing as usual. But while many pension fund chiefs are more comfortable allocating capital to well-known investment managers with proven track records, Stringer has placed an emphasis on investing in younger funds, which he defines as those with $2 billion or less in assets or less than a three year track record.
He's also committing money to investment firms that are more than 50% controlled by minorities and women. In April, he announced plans to invest $1 billion with emerging managers and minority and women-owned funds.
