Monday, 30 March 2015
Last updated 2 days 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…