How To Get Off The American Federation Of Teachers Hedge Fund Blacklist

Henry KravisMuch of the talk in the hedge fund space lately has been about the American Federation of Teachers “watch list” of hedge funds that was released last week. 

The AFT’s report “Ranking Asset Managers”, was sent to pension trustees and listed a bunch of money managers who support education reform organisations.

The reaction from hedge fund sources consulted by Business Insider was that the list was “thuggish” because it aims to scare away potential investors or get current investors to divest.  Others viewed their inclusion as a “badge of honour.” 

It appears private equity giant KKR has figured out how to get off the blacklist, though.  

The AFT named KKR on it’s so-called “watch list” because “a foundation connected to co-founder Henry R. Kravis previously contributed to the Manhattan Institute.”  

It’s a pretty loose connection.

KKR sent the AFT a letter making it clear that they actually support defined benefit plans. 

Here’s an excerpt from the letter:

kkr

It worked.  

The AFT’s president Randi Weingarten took KKR off the list.  Here’s an excerpt: 

AFTSo if you want off the list, here’s a strategy for you.

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