LACERS excludes private equity from possible firearms investment policy.
FORTUNE -- The Los Angeles City Employees' Retirement System's board this week recommended that its staff draft a firearms investment policy, following divestiture requests from a city councilwoman and Mayor Villaraigosa.
But it specifically excluded private equity investments from the potential policy, arguing that such requirements could cause LACERS to be banned from certain private equity funds (as first spotted by Bloomberg). The board MORE