FL Pension Fund Hands over Records on Controversial Investment

October 19, 2011 (PLANSPONSOR.com) - Florida's pension fund is starting to hand over records related to a controversial $125 million investment.

The Associated Press reports that the State Board of Administration has sent over an initial batch of records to State Senator Mike Fasano regarding the state’s decision to hire an investment firm that specializes in shaking up companies.  

SBA executive director Ash Williams has ties to the investment firm hired by the state, but he has said that others in the agency made the decision to hire the company.   

In February, the Florida Commission on Ethics dismissed a complaint against Williams, finding no indication he violated conflict of interest laws (see Florida Pension Chief Cleared of Ethics Violations). A retiree accused Williams of misusing his public position when he helped a Miami mortgage firm win a $100 million pension deal. The firm’s affiliate, Bayview Financial Holdings, was run by two investors of a New York City hedge fund where Williams used to work.