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Teachers’ Union Asks Pensions for Critical Eye on Private Equity

March 18, 2021, 9:02 PM

U.S. public pension funds have an opportunity to demand more transparency and accountability from their private equity investment managers as they prepare their portfolios for the new post-Covid normal, the nation’s second-largest teachers’ union said.

The American Federation of Teachers said private equity performance “as a whole has hardly been as impressive as the industry has claimed,” and their business practices can pose both societal and reputational risks to these retirement funds, according to a Thursday report urging U.S. pensions to reexamine those investments.

As the U.S. emerges from the pandemic and funds begin to shape how they will invest ...