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The first installment of our new predictive index shows that dealmakers expect overall M&A to increase, with health care outperforming the overall market READ MORE 

SLIDESHOW

ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Rahm Emanuel Directs Illinois Pension Fund Review After Sandy Hook

Chicago’s mayor says he will direct fund managers to remove any investments in companies that manufacture or sell assault weapons

Chicago Mayor Rahm Emanuel joins other state officials with a call for pension funds to review gun investments.

Emanuel ordered Comptroller Amer Ahmad to request a portfolio analysis from the city’s five pension funds to determine if they are invested in companies that manufacture or sell assault weapons, as the first step in divesting from those companies.

“We cannot support or invest in companies that profit from the proliferation of assault weapons and the violence these guns bring to our communities,” says Emanuel. “If our fund managers have invested in a company that manufactures or sells assault weapons, I will ask them to remove those investments from our retirement funds.”

The five funds that will be reviewed are: the Fireman’s Annuity & Benefit Fund of Chicago; the Laborer’s & Retirement Board Employees’ Annuity and Benefit Fund of Chicago; Municipal Employees’ Annuity & Benefit Fund of Chicago; Policeman’s Annuity & Benefit Fund of Chicago; and the City of Chicago Deferred Compensation Plan. The funds have more than $13.5 billion in assets.

As Mergers & Acquisitions has been reporting, Emanuel's direction comes after several other state officials from California, Massachusetts, Rhode Island and New York, directed pension fund reviews following the Sandy Hook Elementary School massacre on Dec. 14. Stephen Feinberg's Cerberus opted to sell its stake in Freedom Group Inc. on Dec. 19. That same day, Massachusetts treasurer Steve Grossman called for Pension Reserve Investment Management to review any investments in gun companies, while Rhode Island treasurer Gina Raimondo directed state investment consultant Cliffwater to review the pension fund’s investments holdings for firearm manufacturers.

 

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