Major U.S. pension funds have recouped less than half of the $53.8 billion in cash they've invested in private-equity funds started since 2000. All told, they haven't seen a paper profit in seven years. That means less money for the plans' retirees.
Surveillance:Rio Tinto CEO Focused on Costs, China
On Bloomberg Surveillance, Thomas Albanese, chief executive officer of Rio Tinto Group, talks with hosts Ken Prewitt and Tom Keene about reducing costs and improving relations with China. the mining company's largest customer. Surveillance is simulcast weekdays from 7 to 9 A.M. on Bloomberg Television. WATCH
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