New York City Comptroller Mark Levine announced that he is recommending a strategic expansion in private markets climate solutions investments for three of the City’s public pension funds, with plans to present $5 billion in new private market investment opportunities.

New York City’s pension funds represent nearly $300 billion in assets – making them collectively one of the largest public pension systems in the U.S. – and include the New York City Employees’ Retirement System (NYCERS), Teachers’ Retirement System (TRS), and Board of Education Retirement System (BERS). The Comptroller is the investment advisor to and custodian of assets of the city’s pension funds.

In 2022, the NYC…