Sun, Mar 29, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

New York City pension system invests $450m in Fire Tree and Cantab hedge funds

Friday, February 08, 2013

Benedicte Gravrand, Opalesque Geneva: - The $127bn New York City pension system is investing $450m into two hedge funds, according to recent reports. $250m will go to Fire Tree Partners, a New York City-based event driven fund. The remaining $200m will go to Cantab Capital Partners, a quantitative fund manager based in Cambridge, UK.

(The Teacher Retirement System of Texas also apparently recently boosted its existing investment in Fir Tree by adding $25m.)

The New York pension system’s hedge fund holdings are now up by 25%, according to AI.CIO.com and HFMWeek. The asset class accounted for $1.745bn of the city’s total pension assets in November 2012, and $2.2bn as of this month.

At the end of November' 12, about 39% of the NYC pension funds’ assets were allocated to U.S. equity, 33% to fixed income, 16% to international equity, 10% to private equity and real estate, 1.4% to hedge funds and 0.2% in cash.

Lawrence Schloss, the CIO and deputy comptroller who presides over five New York City pension funds reportedly announced the hedge fund investme......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. M&A - Hedge funds no longer attractive targets for banks, reinsurers, Blackstone buys stake in Christopher Pucillo’s Solus event-driven hedge fund[more]

    Hedge funds no longer attractive targets for banks, reinsurers From Institutionalinvestor.com: Swiss RE, the world’s second-largest reinsurer, is looking to sell its 15 percent stake in Jersey, Channel Islands–based hedge fund firm Brevan Howard Asset Management. Morgan Stanley reported

  4. Opalesque Radio: Threadneedle expects continuing equity volatility this year[more]

    Benedicte Gravrand, Opalesque Geneva: Investors should expect more volatility, which is signaling a "slow moving" top to the market, KKM Financial’s founder and CEO Jeff Kilburg told CNBC on Monday. And this volatility is going

  5. Hedge funds show strong performance of 2.52% so far in 2015[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry got off to a strong start in 2015 "completely unmindful" of the poor performance last year, according to data provider Preqin. According to Preqin, following a year which saw the average he

 

banner