Comptroller Tom DiNapoli's recent announcement that $250 million of the state pension fund was allocated to Farol Investment Advisors for private equity co-investments with the fund's emerging managers program is a jaw-dropping revelation, at least to me and probably to many other concerned taxpayers and citizens.
In the interest of promised transparency and disclosure, I would like to know who chose Farol, how did they determine its credibility and ratings, and when will the public find out who are the fortunate recipients of this considerable chunk of state money.
In his recent news report ("State pension fund diversifies," Feb. 16), DiNapoli advises the emerging manager conferences he will offer an opportunity for emerging managers to meet with the fund staff and investment partners to discuss how the fund selects and monitors its investments.
Good idea, however, it would be more reassuring to me and other concerned citizens if the results of these conferences would be revealed publicly in a timely manner, and easily accessible to all of us who want to know.
Sylvia Honig
Wynantskill