Michael AroughetiPresidentAres Management, L.P.2000 Avenue of the Stars12th FloorLos Angeles, CA 90067
Dear Mr. Arougheti:
WE, the undersigned opponents of the proposed Pilgrim Pipeline, urge you and your investors to stop funding this environmentally destructive project.
These two 170-mile bi-directional underground pipelines capable of carrying up to 400,000 barrels of crude oil and refined products per day would threaten densely populated areas, drinking water sources and wildlife habitats with potential leaks and explosions. These risks were detailed at length in a May 2016 letter from the Coalition Against Pilgrim Pipeline to Ares Management.
In addition to posing environmental risks, the pipelines face growing community and lawmaker opposition amidst significant regulatory hurdles:
• The pipelines are opposed by all of the municipalities along the pipelines' proposed route in New Jersey and both houses of the state’s legislature. • The New Jersey utility Public Service Electric & Gas Co. has denied Pilgrim the use of a 27-mile right-of-way, stating that “it was not in the best interests of the utility or its customers to allow access to the right of way.”• In New York, where village and city boards reportedly have “veto power” over pipelines crossing their borders under the Transportation Corporations Law, the project is opposed by more than 20 municipalities along the proposed route.• A bill was filed in the New York State Assembly that would call on the New York Thruway Authority – the largest landholder along the route – to deny the use of its right-of-way. Pilgrim has stated that alternate routes off the Thruway are not feasible.
Opposition to your pipelines continues to grow. In July two more New York municipalities – one with “veto power” – passed resolutions opposing the pipelines.
We will continue to oppose this project to ensure a safe and healthy environment for our families and communities. We ask that you and your investors publicly commit to withdraw your funding for Pilgrim Pipeline.
KEY ARES MANAGEMENT INVESTORS:
California Public Employees Retirement SystemRob Feckner, President
New York State Common Retirement FundThomas P. DiNapoli, Comptroller
Pennsylvania Public School Employees Retirement SystemMelva S. Vogler, Chairman
State Teachers Retirement System of OhioCarol Correthers, Chairman
Florida State Board of AdministrationGovernor Rick Scott, Chairman
State of Wisconsin Investment BoardDavid Stein, Chair
Teachers Retirement System of the City of New YorkJohn Adler, Chairperson
New York City Employees' Retirement SystemRay Sanchez, Chairperson
New York State Teachers' Retirement SystemDavid Keefe, President
New Mexico State Investment CouncilGovernor Susana Martinez, Chair
Michigan Department of TreasuryPatrick J. Delvin, Chairperson
New York City Police Pension FundPatrick Hendry, Chairman
Colorado Public Employees’ Retirement Association Maryann Motza, Chair
Kansas Public Employees’ Retirement SystemLois Cox, Chairperson
Los Angeles Fire and Police Pension System Pedram Salimpour, President
California State Teachers' Retirement SystemDana Dillon, Chair
New Mexico Educational Retirement BoardMary Lou Cameron, Chairperson
INVESTORS IN ARES’ ENERGY INVESTORS FUNDS:
Contra Costa County Employees’ Retirement AssociationJohn B. Phillips, Chairperson
North Carolina State TreasurerJanet Cowell, Chair
Teachers’ Retirement System of IllinoisTony Smith, President
Arizona Public Safety Personnel Retirement SystemBrian P. Tobin, Chairman
Montana Board of InvestmentsMark Noennig, Chairman
North Dakota Investment BoardDrew Wrigley, Chair
Hawaii Employees' Retirement SystemVince Barfield, Chair
Maryland State Retirement and Pension SystemNancy K. Kopp, Chairman
Nebraska Investment CouncilGail Werner-Robertson, Chairwoman