Pension fund adviser, Pacific Corporate Group (PCG), has supported New York Attorney General, Andrew Cuomos code of conduct, The Wall Street Journal reports. Cuomo is seeking to change the public pension fund system and to end pay-to-play nationwide.
PCG affiliate, PCG Corporate Partners Advisers II, will return $2 million in proceeds pertaining to the New York State Common Retirement Fund investment for the benefit of pension holders. The deal resolves the affiliates role in Cuomos industry-wide probe into whether private equity firms and hedge funds made illegal payments to receive investments from the states pension fund.
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