Embattled city Comptroller John Liu has delivered a $16.56 million contract to the former vice president’s environmentally friendly investment firm, Generation Investment Management, to help manage hundreds of millions of dollars in city pension funds, The Post has learned.
The Comptroller’s Office had previously awarded Gore’s firm $12.8 million in pension-fund business under Liu’s predecessor, Bill Thompson.
Since 2009, state Comptroller Tom DiNapoli has approved $6 million in contracts to the firm, co-founded and chaired by Gore. Generation now manages nearly a half-billion dollars of state pension-fund investments, records show.
AP
GETTING GREEN: A financial firm chaired by Al Gore, here in his film, “An Inconvenient Truth,” has been tapped to manage city pension funds.
JOHN LIU Grants contract.
Liu’s office proposes investment-management contracts to the board of trustees of the city’s five major pension funds. Generation is an investment manager for two of them: the New York City Employees Retirement System (NYCERS) and the Police Pension Fund.
But the Gore connection has been a closely held secret.
One NYCERS trustee said he didn’t even know Gore’s firm was a city investment manager.
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