NYC Pensions, Platinum Equity to expand prison investment ban: Bloomberg

New York City pension funds and Platinum Equity are working on a provision that would let funds opt out of future investments in the prison services industry, Bloomberg reported. The New York City Comptroller’s office wants to expand existing restrictions that bar investments in private prisons to include companies that provide services to correctional facilities, the story said. Platinum has come under scrutiny for its 2017 acquisition of Securus Technologies Inc, which has charged as much as $25 for a 15-minute phone call, Bloomberg said.