Majority of US State of Georgia’s Public Pensions Will Be Able to Invest in Alternatives

The State of Georgia Governor Nathan Deal signed the Employees’ Retirement System Enhanced Investment Authority Act. Effective July 1, this act will allow public retirement systems in the State of Georgia to “invest retirement system assets in certain types of alternative investments, private placements, and other private investments.” This is excluding the Georgia Teachers’ Retirement System, since its board has not addressed the legislation. Public pension funds in Georgia may invest up to 5% of assets in alternative investments by firms that have at least a minimum of US$ 100 million in assets under management. Georgia public pension funds are catching up to the alternative investment craze that other public pensions in the United States have embraced over the past two decades.

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