NYC pensions’ deputy CIO pushes for more venture capital

Valerie Red-Horse Mohl, deputy chief investment officer for New York City's pension funds, is advocating for a larger allocation to venture capital, according to New Private Markets. Her core argument, as summarized by the publication, is that the comparatively shorter investment turnaround cycles typical of venture capital could help increase liquidity for the city's pension systems.

The position addresses a recurring tension for large public pensions: private market allocations generally lock up capital for long periods, which can constrain liquidity for benefit payments and rebalancing. By pointing to shorter venture capital holding cycles, Mohl is positioning the asset class as one that could partially offset that constraint.

The publication's summary does not include specific allocation targets, dollar amounts, fund names, or performance figures, and the full article is behind a registration wall. Readers seeking the detailed rationale, the proposed allocation changes, or any timeline for implementation should consult the original New Private Markets report.