A former agent at Blackstone’s placement unit, which helps money managers obtain pension fund business, has pleaded guilty to securities fraud, marking the latest development in the widening US public pension fund scandal.
Andrew Cuomo, New York attorney-general, said on Tuesday that Julio Ramirez had pleaded guilty to charges stemming from his time at Wetherly Capital, another placement agency. Mr Ramirez left Wetherly in 2006 and worked until March this year at Park Hill, the placement unit of Blackstone, the large private equity group.
