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April 30, 2009



DiNapoli Terminates Partnership with Aldus

State Comptroller Thomas P. DiNapoli today announced that he has terminated for cause the New York State Common Retirement Fund’s relationship with Aldus Equity Partners and affiliates. DiNapoli’s announcement followed the filing of a felony complaint today by New York State Attorney General Andrew Cuomo against Saul Meyer, a founding partner of Aldus Equity Partners.

“We have been working to protect the interests of the members of the New York State Common Retirement Fund from potential damage caused by Aldus’ misconduct,” DiNapoli said. “Last week, we started the process for terminating Aldus. The indictments by Attorney General Cuomo today have simply accelerated our actions.

“We have terminated Aldus for cause. We will pursue all legal remedies against Aldus, Saul Meyer and related parties. The one million members of the Common Retirement Fund deserve a full accounting of, and full reparations for, the misdeeds and abuses committed against their pension fund.”

Under former State Comptroller Alan Hevesi, the New York State Common Retirement Fund entered into a partnership agreement with Aldus for investments in a number of funds. DiNapoli exercised his authority as sole trustee to end that relationship immediately. He said that, among other actions underway, his office is preparing a lawsuit to recoup damages resulting from the Common Retirement Fund’s investment with Aldus.

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