(Bloomberg) -- Air Products & Chemical Inc. is pulling $30 million it has invested with Ken Fisher, joining a growing number of pensions after the billionaire made vulgar comments at an industry conference.

“The comments attributed to Mr. Fisher are unacceptable and inconsistent with Air Products’ values, principles of respect, and diversity and inclusion goals,” the company said in a statement to Bloomberg Friday. It “has terminated the relationship with Fisher.”

Fisher Investments is seeing a growing backlash since the firm’s founder made offensive comments about women, spoke of genitalia and then failed to immediately understand the gravity of his words. The Camas, Washington-based firm, which manages $112 billion, is also facing scrutiny from several other pensions which are examining their business with Fisher.

The Boston Pension Board on Oct. 16 yanked the $248 million it invested with Fisher after the Michigan Retirement Fund ended its relationship with the firm, which managed $600 million for the state. The Philadelphia Board of Pensions also plans to divest $54 million in assets from Fisher.

Air Products, founded in 1940, provides industrial gases and related equipment to many industries. The company in Lehigh Valley, Pennsylvania, is the world’s leading supplier of liquefied natural gas process technology and equipment.

Fisher Investments was managing about $10.9 billion on behalf of 36 state or municipal government entities, including pension plans, at the end of 2018, according to the firm’s Securities and Exchange Commission registration. That figure is down from $13.2 billion at the end of 2017.

At the Tiburon CEO Summit on Oct. 8, Fisher compared the process of gaining a client’s trust to “trying to get into a girl’s pants” and talked about genitalia. Fisher has apologized for the comments.

Here are the reactions from pensions and firms.

Sources: Bloomberg, filing. *Fisher is 1 of 11 subadvisers

--With assistance from Miles Weiss, John Gittelsohn, Sridhar Natarajan and Annie Massa.

To contact the reporter on this story: Janet Lorin in New York at jlorin@bloomberg.net

To contact the editors responsible for this story: Alan Mirabella at amirabella@bloomberg.net, Vincent Bielski

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