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Carlyle pays $20m to end pension fund investigation

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http://www.ft.com/cms/s/0/19b10f22-40b6-11de-8f18-00144feabdc0.html?nclick_check=1


The code bans the use of placement agents or other third parties in soliciting investments from public pensions.


“Our code of conduct will help eliminate the conflicts of interest and corruption inherent in a system that allows people to buy access to those holding the pension fund purse-strings,” Mr Cuomo said.


“By banning campaign contributions to those who have sway over pension funds and eliminating the third-party intermediaries that have become dens of corruption, we will ensure reform.”


Carlyle won $730m in investment commitments from the New York State Common Retirement Fund after it hired Hank Morris as a placement agent. Mr Morris was the chief political aide at that time to the New York state comptroller, Alan Hevesi, sole trustee of the fund.


solicite 〔…を〕懇願する 〈客を〉誘う,声をかける

purse-strings 財政上の権限

den (不法な活動の場としての)隠れ家

aide 助力者

comptroller (会計・銀行の)検査官

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