NY Fund Makes Rebalancing Changes
A Bloomberg report said the move affected AllianceBernstein Holding LLP and Capital Guardian Trust Co., as the plan moves money into assets like timber and gold as well as “opportunistic” funds.
AllianceBernstein managed $1.3 billion of assets and Capital Guardian managed $1.2 billion, Olayinka Fadahunsi, a spokesman for state comptroller Thomas DiNapoli said in a telephone interview with Bloomberg. “We’re rebalancing,” Fadahunsi said. “We’re reducing exposure in domestic equities.”
New York also committed $175 million to two private equity funds, a $50 million commitment to Vista Foundation Fund, and $125 million to Kohlberg Kravis Roberts & Co.’s China growth fund, Fadahunsi said, according to Bloomberg.
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