CHARLOTTE, N.C. (AP) - Investment firms are benefiting from state Treasurer Richard Moore's effort to diversify the state's $77 billion pension fund.
A Charlotte Observer analysis found that outside money managers earned $212.5 million in the fiscal year ended last June. That's a 35 percent increase over the year before.
Employees at some of those firms gave at least $128,000 last year to Moore's campaign for governor, accounting for about 5 percent of all his contributions.
Moore said he has done nothing wrong. Employees of seven of the 10 firms that received the most fees didn't give any money to the race.
Moore has tried to expand the pension fund into alternative investments, such as hedge funds.
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