Monday, June 18, 2012

Al Gore's Investment Fund Just Just Won A Sweet New York City Contract

According to BusinessInsider: Here's something you might not have known: Al Gore is managing New York City pension funds. That's right, The New York Post reported this morning that the former Vice President's "environmentally friendly investment fund" Generation Investment Management recently received a $16.56 million contract (in addition to the $12.8 million they received under former NYC comptroller Bill Thompson) from city comptroller John Liu to manage hundreds of millions of city pension funds.

For Liu, who's faced increased pressure to keep pension funds sustainable, hiring Gore's firm seems to be a perfect match. For Democratic politicians like Liu and DiNapoli who want to burnish their credentials as environmentally responsible financial stewards, hiring Gore’s firm is like hitting a home run, analysts say.

But Liu's spokespeople say that the proof is in the pudding, and by pudding we mean profits.

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