The chief investment officer for New York State’s pension, Raudine Etienne, took a not-so-veiled swipe at Steve Rattner’s Quadrangle at an industry conference today.

“What is of particular interest to us is the key-man provision,” she said, in explaining how she wants more favorable contracts when making private equity investments. “I think in the last year or so we’ve been bound by provisions that are not quite as strong as we would have wanted.”

A key-man provision allows investors to pull future commitments if the lead person in a firm leaves.

In April, New York voted to dissolve Rattner’s Quadrangle after Rattner left to become Obama’s car czar and was exposed for allegedly bribing pension officials — but a majority of investors elected to keep Quadrangle’s fund going, and New York was forced to stay.