Easterly Asset Management acquired two municipal investment mutual funds and hired two managers, including the former co-head of municipals at OppenheimerFunds Rochester, to run them. Easterly, a Massachusetts-based asset manager with $3 billion under management, added PSP High Income Municipal Bond Mutual Fund and the PSP Short-Term Municipal Fund, which have a combined $600 million
Investors and credit rating agencies are weighing how much effect the collapse of the Francis Scott Key bridge in Baltimore’s inner harbor will have on the local economy and logistics on the East Coast, though early indications suggest no drastic credit impact. Early Tuesday morning the Singapore-flagged container vessel Dali lost power and crashed into a
Keeping state coffers stocked and liquid requires a delicate mix of analysis, hedging and listening, with an emphasis on remaining nimble over the coming months. “Over the last eighteen months, the Fed’s told you what the answer is, and the market has continually bet against them,” said Thomas Waters, chief investment officer, Pennsylvania Treasury. “They’ve
Melissa Messina, a veteran public finance lawyer, has rejoined Miles & Stockbridge as a principal in its Baltimore, Maryland, office. She will focus on senior living and life-plan communities. Messina previously worked as a financial advisor and investment banker at HJ Sims, counseling nonprofit life plan communities, assisted living and skilled nursing facilities. She advised
Oppenheimer & Co. Inc. has brought on a pair of former UBS bankers to its public finance team under new public finance chief Elizabeth Coolidge. New York-based Kristin Stephens will head the firm’s Northeast region and Atlanta-based David Moffett will head the Southeast, the firm announced Thursday. “Kristin’s past work with issuers in developing innovative
The Chicago Board of Education on Wednesday saw its issuer rating and debt ratings from Moody’s Investors Service upgraded a notch, to Ba1 from Ba2 — still speculative grade, but one level below investment-grade status. The rating outlook remains positive after the upgrade. Moody’s cited improvements in Chicago Public Schools’ operating fund net cash balance,
The New York City retirement systems increased their investments in climate solutions by 24.7% in fiscal 2023, according to city comptroller Brad Lander. The city’s retirement portfolio of climate investments stood at $10.5 billion as of June 30. “Preserving a livable planet and a thriving economy will require a collective global commitment both to the phase-out