Sunday, 28 December 2014
Last updated 5 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.