Staff Analysis of the Legislation
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This bill authorizes, but does not require, the state retirement system and other large retirement systems to invest trust assets in specified alternative investments subject to certain conditions and limitations. Examples of alternative investments include leveraged buyout funds, mezzanine funds, debt funds and venture capital funds. Alternative investments can not in the aggregate exceed 5 percent of a retirement system's assets at any time.This bill, signed by the Governor, is effective July 1, 2012. |