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Fri December 21, 2012
IL Reviewing Pensions for Gun Investments
Illinois public pension fund managers are reviewing their portfolios for investments in gun manufacturers after last week's Connecticut school shooting. Illinois State Board of Investment Executive Director William Atwood says the agency's $12 billion portfolio includes about 84,000 shares worth $1.7 million in three gun-makers — Olin, Sturm Ruger and Smith & Wesson. Spokesman Dave Urbanek says the teachers' system is reviewing its $37 billion portfolio for connections to other gun-makers.
Neither Atwood's agency nor the Teachers' Retirement System does business with Cerberus Capital Management, the private-equity firm that announced this week it would sell the maker of the rifle used in the Connecticut school massacre.