N.Y. State Boosts Buyout Portfolio

Dec 2 2008 | 2:15pm ET

The $153.9 billion New York State Common Retirement Fund committed a total of $210 million to a trio of private equity firms in September.

According to an internal memo, the fund allocated $100 million to Ares Corporate Opportunities Fund III, $50 million to Asia Alternatives Capital Partners II, a women-owned Asian buyout fund; and $60 million to GenNx360 Capital Partners, an African American-owned buyout firm and a new relationship for the fund.

The fund did not make any commitments to hedge funds in September, which turned out to be a horrible month for the industry. CRF senior ivnestment officer Peter Carey said that the fund is going to cut its fund of funds allocation from 23% to 10% by the end of the year, while increasing its allocation to hedge funds to 45%.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...