Quebec’s $303 billion pension manager has written off its stake in bankrupt cryptocurrency lender Celsius Network LLC, with its chief executive officer conceding the fund invested “too soon” in the sector.
In new draft rules posted Monday on the website of the agency that oversees Florida’s pension fund, state investment managers can weigh only the risk or return of an investment when directing the state’s $200 billion in assets.
The San Francisco-based firm hired two managing directors and wealth managers to provide portfolio management, retirement planning and investment consulting services to nonprofits.