Gore's Investment Firm to Help Manage NYC Pension Funds

Monday, 18 Jun 2012 09:39 AM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
New York City has inked a $16.5 million contract with Al Gore’s environment-focused investment firm to help manage the city’s pension funds, according to the New York Post.

The city Comptroller’s Office awarded the contract to the former vice president’s Generation Investment Management, which he co-founded and co-chairs with former Goldman Sachs executive David Blood. The firm, which has offices in London and New York, will help manage hundreds of millions of dollars in city pension funds, the Post said. The city had previously awarded Generation a $12.8 million contract for similar work.

“There’s a lot of pressure on pension funds to be environmentally sensitive. Gore’s name and stature in the pension-fund community is invaluable — particularly for Democrats. He’s Al Gore!” Bill Sannwald, a corporate governance and ethics professor at San Diego State University, told the Post.

Generation investments have earned a 22 percent return for the city and a 32.7 percent return on state pension-fund investments since New York State hired the firm in 2009, the Post reported.


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

William Shatner Wheelchair-Bound After Horse-Riding Accident

Monday, 28 Jul 2014 14:50 PM

Star Trek Icon William Shatner turned up at the Comic-Con convention in San Diego last week in a wheelchair after injuri . . .

Virginia Gay Marriage Ban Unconstitutional, Appeals Court Rules

Monday, 28 Jul 2014 14:47 PM

A federal appeals court affirmed a judge's ruling that Virginia's ban on gay marriage is unconstitutional, extending a s . . .

Study: Fist Bumps Could Cut Transmission of Germs

Monday, 28 Jul 2014 14:39 PM

Ditching handshakes in favor of more informal fist bumps could help cut down on the spread of bacteria and illnesses, ac . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved