By Jen Sidorova, includes “For investment managers of public pension plans, the pressure to achieve high returns has increased in recent years. … Private equity investing, which public pensions hope will bring higher returns, has become more common in portfolios. However, this strategy comes with a higher level of investment volatility, higher investment fees, and a noted lack of transparency. … Coupled with high management fees, alternative asset investments are proving to be a risky gambit for most plans that are already seriously underfunded.”