North Carolina's TikTok exposure

North Carolina pensioners have a stake in the future of the social media app TikTok in the U.S. Why it matters: Congress is considering legislation that would force China-based ByteDance to sell the social entertainment app's U.S. operation or shut it down. State of play: At least 21 state and local retirement funds (including North Carolina) have an indirect investment in ByteDance, according to the Equable Institute, a bipartisan nonprofit that provides research on pensions. • Most of those are via private equity holdings, an asset class that makes up...