It’s not the principle that some portion of a large pension fund should be invested in higher-risk, higher-return opportunities that I would question. When a public Michigan pension fund is investing in local real-estate deals within the state of Michigan, the potential for conflict of interest is very high.
I would be asking some very hard questions about the relationships between the people who control the pension funds and the developers.
Interesting. Thanks for posting.
Eight years of near zero interest rates will do that to them. They have to get a return somewhere.
“I’m sorry, but there is no money for your retirement.
Unfortunately, we put the retirement money into risky investments like whores and Hawaiian Condos.
Would you like a pineapple?”