US. NYPD pension fund to divest $42M of Russian-issued securities investments
New York City’s Police Pension fund will divest its securities investments issued by Russian companies, following a slew of state and federal sanctions boycotting Vladimir Putin’s military invasion of Ukraine.
The fund’s trustees – which include Mayor Eric Adams, city Comptroller Brad Lander and NYPD Commissioner Keechant Sewell – voted Tuesday directing the comptroller to divest $42.2 million following a review of its public equity and fixed income investments in Russian businesses.
Trustees wrote in the resolution passed that they’re “concerned over the Russian federation’s unprovoked invasion of the sovereign nation of Ukraine.”
“The United States government has identified the financial institutions that finance the Putin regime, as well as state-owned Russian companies that provide key services crucial to the Kremlin and the Russian military, and is in the process of identifying companies owned by Russian elites who benefit from their connections with the Kremlin,” reads the document.
Read more @New York Post
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