The North Carolina House of Representatives yesterday approved legislation that gives state Treasurer Richard H. Moore the authority to invest up to 5% of the assets of the $59 billion North Carolina Employees Retirement System in alternative investments, and to add private equity and hedge funds to that category. The system now can invest up to 1% of assets in alternatives. The bill earlier had passed the state Senate and now goes to the governor, who is expected to sign it.
The North Carolina House of Representatives yesterday approved...
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