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BlackRock Raps Board Of World s Biggest Glove Maker Over Worker Safety
BlackRock cited workers accounts of working and living conditions, the firing of the whistleblower and the virus cluster at Top Glove in its criticism of the board.
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The board of directors of Malaysian firm Top Glove Corp, the world s largest maker of medical grade gloves, has failed egregiously in protecting its workers from COVID-19, U.S. investor BlackRock said, calling for its removal.
The comments from the world s biggest asset manager come after Top Glove saw an extensive coronavirus outbreak among its workers late last year. More than 5,000 foreign workers were infected and one died in what became Malaysia s biggest cluster.
BLACKROCK has criticised Top Glove’s board for failing to see to the health and safety of workers living in the glovemaker’s dormitories. Read more at The Business Times.
Los Angeles County Employees preps private equity consultant search
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Los Angeles County Employees Retirement Association, Pasadena, Calif., plans to launch an RFP for a private equity consultant sometime before Jan. 21, said Jonathan Grabel, CIO of the $60 billion pension fund.
Incumbent Stepstone Group s contract is set to expire in October. Stepstone will be invited to rebid. A selection is expected as early as September. LACERA has $7.1 billion invested in private equity and a private equity target of 10% with an allocation range of 7% to 13%.
Separately, the board on Dec. 9 approved a growth structure review, the primary planning document for its growth asset class. LACERA has $29.4 billion in the asset class, which includes global equity, private equity and real estate.