Four investment firms agreed to pay $4.5m to settle an investigation by New York’s attorney general, Andrew Cuomo, into the state’s pension fund, reports the NYT. The money paid by the four firms – HM Capital, Levine Leichtman Capital Partners, Access Capital Partners and Falconhead Capital – will be returned to the state pension fund. They also agreed to halt their use of outside intermediaries, or “placement agents”. The four are the latest to accede to Cuomo, months after he announced a two-year inquiry into New York’s $122bn pension fund.

This entry was posted by Gwen Robinson on Friday, September 18th, 2009 at 4:43 and is filed under Capital markets, People. Tagged with Access, andrew cuomo, Falconhead, HM, Levine Leichtman. Edit this entry.