NYCERSNew York City Employees Retirement System
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Laws 1056, 1062 (regarding NYCERS); Act of May 11, 1920, ch.
In March 2004, NYCERS, along with Tishman Speyer Properties and other partners, purchased the leasehold interest in the 34-story, 635,000-square-foot office tower located at 885 Third Avenue for $247.5 million.
(148.) After refusing to consider Rule 14a-8(c)(7) challenges during the pendency of litigation, the SEC began issuing no-action letters in May 1995, when it concurred with BE Aerospace's argument that NYCERS' proposal to implement or increase activity on the McBride principles could be excluded.
NYCERS was not the first pension funds to pull assets from hedge funds.
The decision on behalf of the Big Apple's largest public pension, New York City Employees' Retirement System (NYCERS), to divest from hedge funds was seen as a significant blow to the industry, which likes having pension investments because they tend to leave their money invested longer than individuals do and add stability.
Financing will also include a construction loan in the amount of $13.5 million from Bank of America, a permanent loan from the New York City Employee Retirement System (NYCERS) in the amount of $2 million, and a loan of $108,000 from the New York State Energy Research and Development Authority (NYSERDA).
Public records indicate that Starwood has been actively seeking investment from New York City public pension funds, including NYCERS and the Teachers Retirement System of NYC, spending $180,000 lobbying these and other NYC public pension funds over the last two years.
Stringer hailed passage by the New York City Employees Retirement System (NYCERS) of a reform proposal he authored, strengthening the City's commitment to hire investment firms run by women, people of color and other under-represented groups.