Scott Stringer vowed during his successful campaign for New York comptroller to reduce the $370 million in fees the city’s five pension funds pay money managers and consultants annually. His job, which starts Jan. 1, just got harder.
Qunar Cayman Islands Ltd. and 58.Com Inc. jumped after selling shares above their price targets, a signal that appetite for Chinese companies remains unshaken by Muddy Waters LLC’s fraud allegations against NQ Mobile Inc.
In one of the few things Republicans and Democrats can agree on in North Carolina, the state is adding to its lagging bets on private equity and real estate to pump up its $80 billion public-worker pension fund.
Twitter Inc., the microblogging service with more than 200 million members, added Allen & Co. and Code Advisors LLC to the group of underwriters managing its initial public offering, people with knowledge of the process said.
Qunar Cayman Islands Ltd., an online travel service provider controlled by Baidu Inc., seeks to raise as much as $125 million in the biggest U.S. initial public offering by a Chinese company in two years.