Robin Blumenthal
The closing comes as secondary prices fall to levels last seen in the global financial crisis.
The former chief economist at Merrill Lynch has been bearish on the economy for a while. A perfect storm of volatility suggests he’s called it right.
An opportunity may be opening up for distressed debt investors, though they need to tread carefully.
The pension funds vow to avoid investment managers that fail to consider environmental, social and governance or diversity issues