NYC Pensions Pick Carlson, Perry, Pharo

Jul 26 2013 | 10:37am ET

Three prominent hedge funds will split $600 million from a trio of New York City public pension funds.

The three pensions, which invest on behalf of the city's employees, police officers and firefighters, have hired Carlson Capital, Perry Capital and Pharo Management, Hedge Fund Intelligence reports. The mandates are the latest from the pensions, which are seeking to build their direct hedge fund portfolio.

The three pensions, which have $70 billion in assets between them, hired a senior investment officer for hedge funds, Neil Messing, two years ago, and in December announced plans to invest $1.8 billion in as many as 15 hedge funds.

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