Tag: real estate investments
In recent decades, public pension plans in the United States have changed how they take on risk. At the turn of the century, their risky investments were primarily in public equities, whereas alternative assets – like private equity, real estate, and hedge funds – accounted for just 14 percent of all risky investments…
This extreme situation tells us little about public plans in general. The Dallas Police and Fire Pension Plan has received a lot of press attention recently. My view is that the situation is extraordinary and says little about what is going on with state and local pensions generally. It is a story of wild investments…
