The $8.7 billion
“Aldus has handled some private equity investments for LASERS, which proved very successful for the system and its members and the state of Louisiana,” said Cynthia Rougeou, executive director of the pension fund, in a prepared statement, “However, once the allegations involving Saul Meyer surfaced at the end of last month, we immediately suspended any new activity with Aldus and asked for their letter of resignation, which we have received.”
The pension fund is working with its consultant, NEPC, and is already having discussions with other private equity firms about managing the investments going forward.
The Securities and Exchange Commission filed civil charges against Aldus Equity Partners in late April, alleging that Meyer and the firm were part of a kickback scheme to win investment business from the
As of Dec. 31, 2008, Lousiana had an actual private equity allocation of 11.6 percent, with a target allocation of 10 percent, and a range of 7 percent to 13 percent. Late last year, the state committed $50 million to