Entering text into the input field will update the search result below

NY pension fund in $2B partnership with Goldman

Sep. 10, 2014 12:11 PM ETThe Goldman Sachs Group, Inc. (GS) StockGSBy: Stephen Alpher, SA News Editor3 Comments
  • Its first time forming such a partnership, NY state's $180.7B pension fund is giving Goldman Sachs Asset Management (GS +1%) $2B to invest in stocks globally. In addition, Goldman will provide advice on the pension's remaining $98B stock holdings.
  • "Identifying new opportunities is key to the continued growth of the fund’s long-term value,” says Comptroller Thomas DiNapoli. It will give the pension “full access to world-class global equity investment opportunities and the nimbleness to take advantage of them on a timely basis.”
  • The fund is joining other public funds who allocate major chunks of capital over a long period of time to investment managers in return for cheaper fees.
  • The deal is a "landmark assignment," say Tim O'Neill and Eric Lane, the co-heads of the investment management division at Goldman.

Recommended For You

About GS Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
GS--
The Goldman Sachs Group, Inc.