Sept. 10 (Bloomberg) -- New York state’s pension fund is giving Goldman Sachs Asset Management $2 billion to invest in global stocks.
It’s the first time the $180.7 billion fund has formed such a partnership, Comptroller Thomas DiNapoli, the pension’s sole trustee, said today in a statement. In addition to investing the funds with equity managers, the unit of Goldman Sachs Group Inc. will also provide advice across the pension’s remaining $98 billion equity portfolio.
“Identifying new opportunities is key to the continued growth of the fund’s long-term value,” DiNapoli said. 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.”
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