New York state public pension funds together may invest some of their combined $280 billion in assets to help rebuild New York City following the Sept. 11 terrorist attacks, state Comptroller H. Carl McCall said today. Mr. McCall, sole trustee of the $112 billion New York State Common Retirement Fund, Albany, said public pension funds could buy federally backed bonds, offer mortgage financing or invest directly in real estate projects.
Mr. McCall recently met with representatives from state public employee pension funds and union leaders to discuss how to invest their assets to aid the rebuilding effort. Among those at the meeting were Alan G. Hevesi, New York City comptroller, who oversees five city pension funds with a combined $80 billion in assets; representatives from the $80 billion New York State Teachers’ Retirement System, Albany; financial experts; and representatives from various public employee unions.
