New York City has awarded the investment firm of former presidential candidate and environmental advocate Al Gore more than $16 million to handle pension funds worth hundreds of millions of dollars.
The New York Post reports:
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.
In total, that’s more than $35 million in greenbacks to Gore’s firm.