Permal Wins Second NYC Mandate

Mar 25 2011 | 11:29am ET

The Permal Group is doing some good business in the Big Apple.

The New York City Employees Retirement System committed $250 million to the fund of hedge funds firm, just weeks after another city pension fund made a $150 million commitment to Permal. The NYCERS allocation is subject to contract negotiations, the New York City Comptroller's office said.

NYCERS manages $39.6 billion. It has no set hedge fund allocation, and will fund the new investment from its opportunistic equity portfolio.

Earlier this month, the New York City Police Pension Fund hired Permal, its first hedge fund manager.


In Depth

Q&A: SkyBridge’s Anthony Scaramucci Readies For Wall Street Week Debut

Apr 16 2015 | 12:56pm ET

Anthony Scaramucci, founder and managing director of asset management firm SkyBridge...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note