Private Equity Firm Tied to New York Pension Scandal Raises $7.7 Billion From Investors

Private Equity Firm Tied to New York Pension Scandal Raises $7.7 Billion From Investors

Four years ago this month, the private equity firm Riverstone Holdings agreed to pay $30 million to resolve its role in a “pay-to-play” pension fund investigation by Andrew M. Cuomo, the New York attorney general at the time. Several months later, Riverstone’s founder, David M. Leuschen, paid an additional $20 million to settle his role in the case.

“It is important that both firms and individuals be held accountable for conduct that jeopardized the integrity” of New York’s state pension fund, Mr. Cuomo, now New York’s governor, said at the time.

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