Thursday, 28 August 2014
Last updated 4 hours ago
Jul 2 2010 | 10:51am ET
New York’s largest public pension fund is continuing to rebuild its hedge fund portfolio following a damaging pay-to-play scandal. The latest beneficiary is the Rock Creek Group, charged by the New York State Common Retirement Fund with building an emerging manager program.
NYCRF has allocated $200 million to Rock Creek, which will seek out young firms, small firms and women- and minority-owned firms.
“We want to replicate the great success we’ve had with emerging managers in the fund’s public and private equities portfolios,” State Comptroller Thomas DiNapoli, whose office oversees the CRF, said. “Our expanded use of emerging managers will help keep the fund agile and well-positioned to take advantage of promising opportunities, and achieve sustainable future growth.”
The move is just the latest hedge fund mandate from the NYCRF. In May, the fund committed $230 million to Finisterre Capital’s Emerging Markets Fund, and $100 million to Brookside Capital Partners, a long/short equity shop. It also increased its investment in the Invesco Mortgage Recovery Feeder Fund by 50%, adding another $50 million.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...