SkyBridge Capital Nabs N.Y. Pension Manager

Nov 4 2010 | 8:18am ET

SkyBridge Capital has hired the New York State Common Retirement Fund’s hedge fund chief to lead its own institutional hedge fund business.

Peter Carey will assume his new post at the $7 billion alternative asset management firm on Nov. 8. He is charged with building customized hedge fund portfolios for institutional investors, working closely with chief investment officer Raymond Nolte. Nolte himself is new to SkyBridge, having come over from Citigroup when the former acquired the latter's three hedge fund businesses.

Carey has worked in the New York State comptroller’s office for three years. That office and the pension it oversees have been scarred by a pay-to-play scandal that recently led to a guilty plea on corruption charges from former Comptroller Alan Hevesi.

News of Carey’s exit comes just a day after his boss, Comptroller Thomas DiNapoli, narrowly won a bruising re-election campaign against former hedge fund manager Harry Wilson.

Carey oversaw the Common Retirement Fund’s move from funds of hedge funds into direct hedge fund investments. He joined the comptroller’s office from Bear Stearns.

News of Carey's move was first reported by Hedge Fund Alert.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…