NY Governor Kathy Hochul Signs Law Allowing NY Public Funds to Increase Alternative Allocations

Posted on 01/03/2023

On December 23, 2022, New York Governor Kathy Hochul signed into law that expands the “basket clause”. The law permits large New York-based public pension plans to increase their alternative investment allocations to 35% from 25%. The basket clause law affects New York state’s largest public pension funds, which includes the New York State Common…

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