Wednesday, April 26, 2023

Youngkin to Steer More VRS Money to PEUs

Virginia Governor Glenn Youngkin employed leverage in the pursuit of outsized profits (greed) at The Carlyle Group.  Virginia Retirement System plans to employ leverage and steer more money to private equity, private credit and alternative investments.  

Glenn knows about non-recourse loans as nursing home giant went bankrupt under his watch.

Glenn also was in charge when abandoned its lead developer role for the Port of Corpus Christi's Harbor Island project.

Is anyone surprised that the Virginia Retirement System plans to roll the dice given its governor is a former private equity underwriter (PEU)?  They take care of their own.