Thursday, 25 December 2014
Last updated 1 day ago
Apr 5 2011 | 10:09am ET
New York State's largest public pension fund has awarded a $100 million mandate to hedge fund Discovery Capital Partners.
The $140.6 billion New York State Common Retirement Fund said the investment with the Discovery Global Opportunity Partners fund closed on Jan. 1. The fund employs an emerging markets macro strategy.
It is CRF's first investment with Discovery.
"Overall reduction in equity exposure allows the fund to direct capital to the new real assets and opportunistic alternative categories," Olayinka Fadahunsi, a spokesman for New York State Comptroller Thomas DiNapoli said.
To that end, CRF also fired small-cap growth manager Insight Capital Research & Management. It did not provide a reason for redeeming the $21 million investment.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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.