Where's the buyer? |
CalPERS board President Theresa Taylor said... that while she was “personally appalled at Russia’s actions,” sanctions prevented the immediate sale of the system’s public assets in Russia, adding the system’s directors would have to weigh the affordability of getting rid of its private assets in the country
Newsom asked the three chairpersons to advise him of the steps they’re taking within 10 days...
Full story at https://www.sacbee.com/news/politics-government/the-state-worker/article258928008.html.
There may be significant problems and losses entailed in selling off Russian assets in a fire sale mode. Where are the quick buyers? It will be interesting to see what is said about this demand from the governor at the next meeting of the investments committee of the Regents about two weeks from now. Note that the Board of Regents - which includes the governor as an ex officio Regent - has a fiduciary duty to the fund.
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