A loyal Dem who likes #privateequity @CrainsNewYork @resilient_ent

A loyal Dem who likes private equity Print Email Reprints Comment May 27, 2012 5:59 a.m. inShare2 The private equity wars are back at the center of the presidential election, and New York provided an important window into the issue last week. 

State Comptroller Thomas DiNapoli—loyal Democrat, best friend to unions, strong supporter of President Obama—made it clear he loves private equity firms. 

The comptroller announced that the state's pension fund, which covers a million workers and retirees for the state as well as local governments outside New York City, gained about 6% overall in the fiscal year ended March 31. 

That pushed the total assets of the fund to $150 billion, the highest since the financial crisis struck. The gain was due in large part to the strong performance of the state's investments in private equity firms. 

Mr. DiNapoli has committed about 10% of the state's money to private equity, spreading it among no fewer than 70 firms. As the numbers show, he's been well rewarded by the bet.

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