Skip to comments.PENSION FUNDS AN INCREASING FORCE TO BE RECKONED WITH
Posted on 04/13/2003 3:18:48 AM PDT by LizEdited on 05/26/2004 5:13:18 PM PDT by Jim Robinson. [history]
The new owner of U.S. Airways Group, Inc., which exited from bankruptcy proceedings two weeks ago, isn't a multi-billion dollar leveraged buyout firm or a fellow airline.
It's the state of Alabama's retirees.
Retirement Systems of Alabama (RSA) this past week completed a $315 million financing structure with the nation's No. 7 carrier to become its majority owner - the first time a pension fund has taken a controlling interest in a blue-chip company, according to Carl Hess, global director of asset allocation at the pension consulting firm Watson Wyatt Worldwide.
(Excerpt) Read more at nypost.com ...