Gina Raimondo is this month’s Institutional Investor cover girl
January 9th, 2013 at 12:36 pm by Ted Nesi under Nesi's Notes, On the Main Site
Treasurer Gina Raimondo’s star just keeps rising in the world of high finance.
The new issue of Institutional Investor, a monthly magazine with a wide readership among financial types, features a long cover story about Raimondo. The front caption says “Solving the Retirement Dilemma” and the Web headline is “Rhode Island Treasurer Defies Conventional Pension Wisdom.”
The article by Institutional Investor senior writer Imogen Rose-Smith is a favorable but thorough retelling of the now familiar story about how Raimondo – described as “slight and personable” but “quietly ambitious” – pushed the pension law through. It links the treasurer with her friend Newark Mayor Cory Booker, New Jersey Gov. Chris Christie, and the mayors of San Diego and San Jose, Calif.
“With focus and determination, a sure command of finance and a gift for forging consensus, Raimondo took up the challenge,” the article declares, and notes the 41-year-old will likely run for governor in 2014.
Raimondo offers two intriguing quotes that harken back to her original pitch for the pension law. “I just could not live with myself for not fixing the retirement system, knowing at some point in time the well would run dry and someone would be told they don’t have a pension,” she tells the magazine. “Once people started to grapple with the consequences of not fixing the problem, they started advocating for change.”
She also argues once again that it’s “just a mathematical fact that if you have a pension reform that only impacts new employees, young employees or people who aren’t vested, it’s simply unfair. It is intentionally pushing the debt onto the backs of our youngest and newest workers.”
Rose-Smith does a particularly good job with the financial side of the story – both the history of Point Judith Capital, Raimondo’s former venture firm, and the pension system’s experience under Raimondo and Frank Caprio. (Did you know the pension fund is now 13.5% invested in hedge funds?) She also includes praise for Raimondo from Michael Peterson, president of the Peter G. Peterson Foundation, and Orin Kramer, the big-time Democratic fundraiser.
Tags: campaign 2014, gina raimondo, institutional investor, magazines, pensions, raimondo-chafee, raimondomania
Nesi's Notes covers politics and the economy in and around Rhode Island for WPRI.com. (Twitter: 
With all due respect, Ms Raimondo has to prove that her legal gamble (it was, an remains, a gamble) was legitimate and can withstand a court of law.
There are lots of financial figures who would be hero’s today if their financial bets held up against the challenges of time.
If Ms Raimondo loses her bet, the press will be realigning their stories to “what did she know, and when did she know it” headlines.
So let me get this straight:
Raimondo gives $1 billion to small hedge funds.
She gets a return of 1.55% (less than the 10-year T-note).
No wonder she’s raising money from Texas Hedge Fund Managers like John Arnold.
She’s giving them the store in exchange for crap returns.
Booker, Christie, don’t forget Bloomberg, really, says it all.
Booker is bankrolled by Wall Street Hedge fund types, while Christie and Booker are both working for privatization of the public schools. Raimondo has privatized the pension system for the hedge fund managers. Education and public pensions are the new cash cows in America. Seemingly unlimited public funds just waiting for Wall Street pirates.
please … it would be helpful if you held back on your clueless blather
“$100M grant from Mark Zuckerberg begins to have effect on Newark schools”
Oprah and Zuckerberg are not wall street.
I did know that the Treasurer invested $900,000 in 19 hedge funds last year to lower risk. That was in addition to the hedge funds that were already in the portfolio.
My question is, Ted, how much does it cost in fees for all these hedge funds every year? The hedge funds benefit if the market dips but when it doesn’t, the money is lost. That’s the gamble. In the long run, are we losing money?
Hedge funds generally charge higher fees . But their strategies vary greatly and are not correlated and are not necessarily owners of equities.. That’s the whole point from the Treasurer’s perspective . She wants and we should want to build a portfolio that produces the highest returns(after fees) at the lowest possible level of risk. That means lowering risk by investing in non correlated assets to the traditional long stock and bond mix.
Can’t believe these 5 folks actually read II, they apparently don’t know anything about investing. They should stick to People Mag.
Is she ever in Rhode Island ?
How many hedge fun employees secretly gave to Engage Rhode Island?
less than gave to ciclline, whitehouse and langevin
Lots of primary voters read this magazine…..
Really!!!!!
How accurate is that “magazine” ?–it has David Boies representing Microsoft.
Hey guys hang tight. Raimondo will not be running for pres, we need her to replace Chaffee. Gov Chaffee spends too much time hiding under his desk. Our state in general tolerates lackluster elected officials and when somebody like Raimondo comes along they don’t understand the potential she has to fix the state. Sombody has to or we will all go down the drain when the stuff hits the fan.