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DiNapoli introduces workforce policy around labor practices and private equity: What do they mean?

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  • Staff Report 

New York State Comptroller Thomas P. DiNapoli announced a new Responsible Workforce Management Policy aimed at improving labor practices within the private equity sector. As trustee of the New York State Common Retirement Fund, which manages $38 billion in private equity assets, DiNapoli emphasized that the policy would require a thorough evaluation of workforce management practices during investment assessments. This initiative is designed to ensure that companies within the fund’s portfolio prioritize workers’ rights and well-being.


DiNapoli is set to discuss the significance of robust labor principles at the White House Workers’ Capital Event, stressing the connection between strong workforce policies and the enhanced performance and resilience of investment portfolios. The policy mandates that private equity managers uphold standards regarding fair treatment, health and safety, fair compensation, and opportunities for skills training.

The introduction of this policy marks an effort to address growing concerns over labor practices in private equity. By fostering responsible business practices, the policy aims to mitigate risks and enhance the value of investments. It also aligns with the Fund’s broader commitment to labor and environmental best practices, further extending to its real estate, infrastructure, and global equities portfolios.