“We sought the most qualified managers to implement this important initiative,” Thompson said. “JP Morgan and Fairview Capital have the experience, the skills and the relationships necessary to succeed in this exciting mandate.”

The systems participating in this initiative are the New York City Employees’ Retirement System, the Teachers’ Retirement System of the City of New York, the New York City Police Pension Fund and the New York City Fire Department Pension Fund.

Last year, the systems and Thompson issued a Request For Qualifications (RFQ) to hire one or more discretionary managers to invest up to $175 million in emerging private equity funds. The goals of this initiative are: maximizing the risk-adjusted return on capital invested; taking advantage of the market opportunity presented by small, first-time funds, particularly those owned and operated by women or members of minority groups, seeking to raise institutional capital to invest through private equity limited partnerships; and, using niche strategies to achieve value unavailable to investors pursuing broader strategies.

Emerging private equity managers targeted by this initiative may have strategies which include targeting underserved markets for capital goods or services through such conventional private equity strategies as buyouts, venture capital, mezzanine finance and the purchase of secondary interests in private equity limited partnerships.

Besides Thompson, trustees on the New York City Fire Department Pension Fund are:

Mayor Michael Bloomberg; New York City Fire Commissioner Nicholas Scoppetta (Chair); New York City Finance Commissioner Martha E. Stark; Stephen Cassidy, President, James Slevin, Vice President, Robert Straub, Treasurer, and John Kelly, Brooklyn Representative and Chair, Uniformed Firefighters Association of Greater New York; Peter Gorman, President and Captains’ Rep.,Nicholas J. Visconti, Chiefs’ Rep., and Stephen J. Carbone, Lieutenants’ Rep., Uniformed Fire Officers Association; and, Joseph Gagliardi, Marine Engineers Association.

In addition to Thompson, trustees on the New York City Police Pension Fund are: Mayor Michael Bloomberg; New York City Finance Commissioner Martha E. Stark; New York City Police Commissioner Raymond Kelly (Chair); Patrick Lynch, Patrolmen’s Benevolent Association; Michael Palladino, Detectives Endowment Association; Edwin Mullins, Sergeants Benevolent Association; Anthony Garvey, Lieutenants Benevolent Association; and, John Driscoll, Captains Endowment Association.

Serving with Thompson on the New York City Employees’ Retirement System board are: New York City Finance Commissioner Martha E. Stark (Chair); New York City Public Advocate Betsy Gotbaum; Borough Presidents C. Virginia Fields (Manhattan), Helen Marshall (Queens), Marty Markowitz (Brooklyn), Adolfo Carrion (Bronx), and James Molinaro (Staten Island); Lillian Roberts, Executive Director, District Council 37, AFSCME; Roger Toussaint, President Transport Workers Union Local 100; and, Carroll (Carl) Haynes, President, International Brotherhood of Teamsters, Local 237.

In addition to Thompson, trustees on the Teachers’ Retirement System board are: New York City Finance Commissioner Martha E. Stark (Chair); Deputy Chancellor Kathleen Grimm, New York City Department of Education; Phillip Berry, New York City Department of Education’s Panel for Educational Policy; and, Sandra March, Melvyn Aaronson and Mona Romain, all of the United Federation of Teachers.

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