State Treasurer Janet Cowell ranks No. 18 in the Sovereign Wealth Fund Institute’s latest Public Investors 100 list.
Last year Cowell ranked 21st on the global list.
No. 1 on the latest list is Andre Bourbonnais, senior managing director and global head of private investments at the Canada Pension Plan Investment Board.
The institute noted that the state pension fund managed by Cowell earned a 15.88 percent return for the fiscal year that ended in June and is now worth more than $90 billion.
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“Although she has received some criticisms about her commitment to alternatives, including hedge funds and (venture capital) firms, she refuses to budge,” the institute wrote.
In addition to considering the size of managed assets, the rankings also take into account contributions to “important trends.”
The Sovereign Wealth Fund Institute studies long-term public investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade, and other relevant issues.