Blackstone Settles Kentucky Pension Lawsuit for $18 Million as $6 Million Hinges on Dismissal
Updated
Updated · Courier Journal · Jul 2
Blackstone Settles Kentucky Pension Lawsuit for $18 Million as $6 Million Hinges on Dismissal
1 articles · Updated · Courier Journal · Jul 2
Summary
$18 million is due from Blackstone to Kentucky pension managers within 30 days under a June settlement entered in court, ending the state's claims after years of litigation over hedge-fund investments.
Another $6 million will be held separately and added only if a parallel lawsuit by state employees is dismissed; their lawyer called it a "bounty" at a July 1 hearing.
That employee case against Blackstone remains stayed while the Kentucky Supreme Court weighs standing, but Franklin Circuit Judge Thomas Wingate appeared receptive to arguments that it should continue.
Kentucky is still suing PAAMCO/Prisma and KKR over alleged mismanagement of more than $1 billion in pension assets, and a broader 2025 settlement touted at $227.5 million still lacks court approval.