Stringer fingers fee data
Scott Stringer’s push for transparency has come out a little foggy.
In a bid to show how Wall Street fees eat into city pension funds’ returns, the New York City comptroller on Tuesday reported that the $162.9 billion pension system paid out roughly $399 million in fees.
But fees paid to hedge funds and private equity firms weren’t included in the total — meaning the total fees paid by city pensions were likely much higher, insiders told The Post.
Last year, The Post exclusively reported that Stringer had paid $530.2 million in fees to investment firms, despite vowing to keep those costs down.
“We remain confident that our mix of assets is wellpositioned to take advantage of market opportunities in the coming years,” Stringer said in a statement.