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Teachers’ Minn. pension fund under Tim Walz ‘cooking the books’ by vastly underreporting fees: ‘Madoff miracle’ – New York Post

Minnesota Gov. Tim Walz’s public school teachers’ retirement system “falsified the books” by dramatically under-reporting the annual fees it paid to Wall Street investment managers, posting nearly impossible gains that rivaled the “Madoff miracle,” a top pension investigator said. The state Teachers Retirement Association has disclosed less than 10 percent of the estimated $2.9 billion […]

David Rubenstein’s daughter quits Alaska fund over cronyism claims

The daughter of private equity billionaire David Rubenstein has resigned from the board of Alaska’s $80 billion sovereign wealth fund after being accused of using her position to benefit friends and family. Gabriel (Ellie) Rubenstein (36), who runs the Colorado-based investment firm Manna Tree, announced at a meeting with the Alaska Permanent Fund Corporation’s board […]

Pro-Trump money man Bill Ackman seeks investors for new fund

Bill Ackman, the billionaire ally of Donald Trump, has asked shareholders of his Pershing Square fund to back a new investment venture that aims to manage about $25 billion in assets. The 58-year-old hedge fund manager, whose net worth is estimated at $9 billion, wrote the letter seeking support for Pershing Square USA, which plans […]