Thursday, 26 November 2015
Last updated 16 hours 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…