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Alarm over NJ pension system’s ties to foreclosures in Puerto Rico

FEBRUARY 2, 2018 | by John Reitmeyer | NJ SPOTLIGHT (NEW JERSEY)

By John Reitmeyer, includes “Four months after being crushed by Hurricane Maria, Puerto Rico is bracing for a mortgage crisis, with many residents now way behind on their payments. And some 1,500 miles away, policymakers for New Jersey’s public-employee pension system are trying to make sure investments that were launched here years ago don’t make the situation worse. Members of the New Jersey State Investment Council were recently notified that two private equity funds that the pension system owns significant stakes in have financial ties to companies that are pursuing foreclosures on the devastated island.”

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