New York pensions chief says private equity firm sought to expense jet use

The head of New York's $326 billion Retirement Systems has raised concerns about a private equity firm's attempt to cover personal jet expenses, highlighting a broader issue of escalating fees from fund managers. This revelation underscores the tension between pension funds and investment firms over costs and transparency. It’s a significant matter because it could affect the long-term sustainability and effectiveness of pension systems, which are crucial for the financial security of many retirees. For more details, check out the full article on the Financial Times website.