Oregon state Treasurer Ben Westlund is all about transparency. As a member of the Oregon Investment Council, he's putting the council's positions on corporate governance and investor protection, as well as new private equity and real estate investment guidelines on a new website.
Last month, in an effort to educate the public about the goals of the treasurer and the investment council, Mr. Westlund launched the new web portal, said James Sinks, spokesman for the treasurer and the Tigard-based council, which manages the $42 billion Oregon Public Employees' Retirement Fund, Salem.
In addition to posting the council's efforts to improve corporate governance, the website includes a new set of principles that the council is aiming to include in its contracts for new private equity and real estate fund investments. The council will look more favorably at investing in firms that agree to greater transparency, independent auditing and reasonable fees. In addition to posting them to the new website, the council's investment staff and Mr. Westlund will be informally sharing the principles with interested counterparts in other states, Mr. Sinks said. The website will be updated with developments as they occur.