NY pension fund invested in controversial private equity funds

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NY pension fund invested in controversial private equity funds



NEW YORK (Reuters) - An investigation by New York's top prosecutor into whether a group of private equity firms used a fee arrangement to dodge taxes may be undermined by the state's own public pension fund. New York Attorney General Eric Schneiderman in July subpoenaed more than a dozen private equity firms, including Apollo Global Management LLC, Bain Capital LLC, KKR & Co LP, Silver Lake Partners LP and TPG Capital LP, over their practice of converting management fees paid by investors into fund investments. ...






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