Deals and People December 27, 2001

Ex-NYC Plan Sponsor Barsky Opts to Grow Hedge Fund

December 27, 2001 (PLANSPONSOR.com) - Adam Barsky, chairman of the New York City Employees Retirement System, has resigned to join a hedge fund.

Reported by

Camilla Klein

Barksy, who spent eight years helping to manage the city’s finances under the Rudolph Giuliani administration, will start work at Millbrook Capital Management early next year.

There he aims to use his contacts in the public pension-fund arena to expand the fund, according to a Wall Street Journal report. Millbrook holds $50 million in assets.

Since 1997, Barksy served as chairman of the New York City pension system, overseeing some $80 billion in retirement savings for the city’s employees.

He previously held the position of city budget director, overseeing the city’s $40 billion budget and assisting in the issuance of municipal bonds.