Mismanagement cost NY pension $3.8 billion over 8 years-regulator

(Reuters) - New York's Department of Financial Services said on Monday that investment in high-cost underperforming hedge funds and non-transparent private equity funds had cost the State Common Retirement Fund (CRF) $3.8 billion over the past eight years.

from Reuters: U.S. http://ift.tt/2e1LUPN