September 26, 2011 - NY Times:
Amalgamated Bank (the nation's only union-owned bank) announced on Sunday that WL Ross & Company (Wilbur L. Ross) and the Yucaipa Companies (Ronald W. Burkle) would each invest $50M in the bank. The two firms will each receive 20% of the bank's common shares. Previously the FDIC ordered the bank to raise its capital ratio to 7% which had slipped to 6.2%.
NYCERS has $3.9B invested in an S&P 500 index fund managed by the Amalgamated Bank. It also has reportedly $163.02M invested in three private equity partnerships run by the Yucaipa Companies. It is not clear exactly how much NYCERS has in the Yucaipa partnerships because no one knows for sure how much NYCERS has invested in any of its private equity partnerships.
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