Siona Listokin is an assistant professor in the School of Public Policy at George Mason University. She received her Ph.D. in business and public policy from the Haas School of Business at the University of California, Berkeley and her B.S. from the Wharton School at the University of Pennsylvania. Professor Listokin’s research interests include public finance, financial regulation, public management, and political economy. Professor Listokin has published articles on financial regulation after the Dodd-Frank financial reform, corporate governance, and institutional investors. She has expertise on global pension fund investment strategies and corporate governance roles. Professor Listokin has also published works on U.S. state and local pension funds and their impact on state finance.
Siona Listokin
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U.S. Public Pension Funds and Alternative Investments
In the past decade and a half, state and local public employee retirement systems in the United States have significantly shifted their fund investment strategies toward a greater allocation in alternative investments. Today, roughly $660 billion of public pension funds are invested in hedge funds and private equity funds. These alternative investments typically require new governance structures within the pension funds in order to adequately monitor accompanying risks and returns, management fee arrangements and investment complexity.