Heather Gillers

Rich Hall will become chief executive of UTIMCO, the fund that manages $66 billion for the University of Texas and Texas A&M University, the fund said Thursday. Britt Harris, who has held the position since 2017, will leave the fund on June 30. Mr. Hall has been UTIMCO’s investment chief since 201

Higher-yielding bonds are luring public pension funds that spent years loading up on alternative assets.

Legacy Cares, the developer of Bell Bank Park, will explore options after defaulting on its municipal bonds.

Nuveen municipal-bond chief John Miller is retiring as rising rates and waning investor appetites have left muni funds full of low-yield bonds.

Chicago will face a shortfall of $85 million in fiscal 2024, the smallest budget gap in at least six years, outgoing Mayor Lori Lightfoot said Tuesday. Ms. Lightfoot's remarks came in an address to the Executives' Club of Chicago, a business networking group. "We’re delivering through hard work and

Public retirement officials are debating what to buy in a changing world.

Cities are bracing for the impact of remote work on downtown property tax revenues. A recent sale of a San Francisco building shows how complex and hard-to-predict the damage could be

City and state governments fear a potential surge in borrowing costs and curtailed federal spending.

A rebound in stocks early this year helped buoy pension funds for the second quarter in a row, according to Wilshire Trust Universe Comparison Service. Public pension funds returned a median 4% for the three months ended March 31, thanks to gains on stocks and bonds. “The public markets did very we

The city of Milwaukee's credit rating got a two-notch downgrade from Fitch Ratings Tuesday. Milwaukee's main revenue sources—property taxes and state aid—will remain stagnant or be outpaced by inflation, the firm said. Meanwhile, it said debt and pension payments make up a growing portion of the ci