Shortly after banning certain New York City pension systems from investing in funds that use placement agents, NYC Comptroller/mayoral candidate William Thompson said the following in a CNBC interview:
“In some cases, [placement agents] are doing everything from the doing the PPM toalmost the presentations to helping market around the country. Because a lot of these private equityfunds, particularly the smaller ones and the mid-sized ones don’t have marketing sides, don’t know how to reach out. So in some instances, you could say it helps. We’re just going to beef up our staffs and work alone with our outside consultant to try to create better access.”
Since then, however, Thompson’s office has yet to post any new job openings related to private equity on its website. It’s got a “director of private markets” job up there, but that’s more than a year old (and, from what an insider tells me, unlikely to be filled anytime soon).
I called Thompson’s press office yesterday to find out if/when the “beefing” might occur, but no answer yet. Will let you know if/when I hear back.