New York Picks Rock Creek For Emerging Managers Mandate

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.


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

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.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.