Empire State Says Excelsior To Alts. In October

Dec 27 2010 | 2:18am ET

Alternative investments firms were the beneficiaries of nearly all of the more than $300 million committed by New York's largest public pension system.

The New York State Common Retirement Fund made a total of $343 million in commitments in October, HedgeFund.net reports, citing the pension's latest monthly transaction report. The biggest chunk, $275 million, went to three long/short equity hedge funds.

Another $50 million went to an emerging manager fund of hedge funds, with $12.5 million entrusted to private equity firm Grey Mountain Capital Partners.

The New York pension, one of the country's largest, has more than $130 billion in assets.

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