Monday, 3 August 2015
Last updated 4 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…