Friday, May 8, 2009

Placement Agents: Inquiries into Activities of Placement Agents Extend Across the U.S.

As reported by The New York Times, attorneys general in more than 30 U.S. states are now examining over 100 firms and their activities as placement agents for various pension funds and other pools of primarily public money. The Associated Press reports that dozens of people have received subpoenas in connection with the New York Pension probe relating to the use of placement agents. In the meantime, Blackstone CEO Stephen Schwarzman defended the use of legitimate placement agents.