Sunday, 26 April 2015
Last updated 2 days 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…