PRIVATE EQUITY LABOR POLICY COMPARISON

The document provides a comparative analysis of labor policies from the NY State Common Retirement Fund, CalPERS, Maryland SRPS, MassPRIM, and the Illinois State Board of Investment (ISBI). It details how these investors approach the right to organize, compulsory labor, discrimination, wages, layoffs, diversity, health and safety, and working conditions within their private equity portfolios.

• Several public pension funds explicitly encourage a position of neutrality regarding union organizing efforts within portfolio companies. NYS CRF, MSRPS, MassPRIM, and ISBI all support or encourage neutrality and non-interference when workers seek to join a union.
• The funds generally align their human rights standards with international frameworks, specifically the International Labor Organization (ILO) and the UN Universal Declaration of Human Rights, to combat forced labor and child labor.
• Policies regarding wages and benefits typically emphasize the payment of industry-standard wages and the provision of customary benefits, such as healthcare and retirement, to ensure an adequate standard of living.
• Health and safety are prioritized across the examined policies, with NYS CRF and MSRPS specifically requiring the measurement and disclosure of safety metrics, including workplace injuries.
• The Illinois State Board of Investment (ISBI) provides specific guidance on mitigating the impact of corporate transactions, suggesting the use of successorship clauses and reasonable severance pay during bankruptcies or reorganizations.
• The applicability of these policies varies by fund; while CalPERS applies its principles portfolio-wide, NYS CRF excludes funds of funds, secondary funds, and funds without a strategy of independently making equity investments.

APA

Private Equity Stakeholder Project (n.d.). PRIVATE EQUITY LABOR POLICY COMPARISON. https://pestakeholder.org/wp-content/uploads/2026/03/PESP_Labor-Policy-Comparison_Feb2026.pdf

Chicago

Private Equity Stakeholder Project. PRIVATE EQUITY LABOR POLICY COMPARISON. n.d. https://pestakeholder.org/wp-content/uploads/2026/03/PESP_Labor-Policy-Comparison_Feb2026.pdf.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=PRIVATE EQUITY LABOR POLICY COMPARISON |url=https://pestakeholder.org/wp-content/uploads/2026/03/PESP_Labor-Policy-Comparison_Feb2026.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderprojectndprivate, author = {{Private Equity Stakeholder Project}}, title = {{PRIVATE EQUITY LABOR POLICY COMPARISON}}, institution = {Private Equity Stakeholder Project}, url = {https://pestakeholder.org/wp-content/uploads/2026/03/PESP_Labor-Policy-Comparison_Feb2026.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }