Sat, Jul 2, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

New York launches new program for emerging hedge fund managers

Monday, April 28, 2014

Bailey McCann, Opalesque New York for New Managers:

The New York City Retirement System (NYCERS) is launching a new emerging managers program targeted at alternative investments and Minority and Women-Owned Businesses Enterprises (MWBEs). The city's five pension funds - the largest municipal system in the world is adding $1bn to its emerging manger program, bringing the total invested in emerging managers to more than $14bn including nearly $10 billion committed to MWBEs.

"It bas been a struggle to get emerging managers in the door, but we want to bring more in," said City Comptroller Scott Stringer, during an event held for emerging managers and the media in New York City.

The $1bn will be spread among emerging managers in hedge funds, real estate and opportunistic fixed income. Networking events will be held over the coming year focused on getting emerging managers in front of investment officials.

"We're not setting aside $1bn with our eyes closed, you have to bring your A game, or we are going to send you back to the drawing board," Stringer said. NYCERs has been steadily adding to its alternatives allocation, bringing it up from 11% to 21%. Allocation to alternatives are limited by law to be no more than 25% of the total portfolio.

An emerging manager is defined as a hedge fund with $2bn or less in AUM. Investment officials are working through a plan to maintai......................

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. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  2. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  3. Chesapeake Partners to liquidate hedge fund amidst 'hostile environment'[more]

    Komfie Manalo, Opalesque Asia: Chesapeake Partners Management, the hedge fund run by woman fund manager Traci Lerner said it would return investors’ money after 25 years because the market environment has become "hostile" to manage other people’s money, reported

  4. Europe - George Soros says Brexit has ‘unleashed’ a financial markets crisis, Brexit—what we know, Will the UK’s departure be a ‘soft-Brexit’ or a ‘hard-Brexit’?, Brexit: Six-point action plan for asset managers[more]

    George Soros says Brexit has ‘unleashed’ a financial markets crisis From Bloomberg.com: Britain’s decision to leave the European Union has “unleashed” a crisis in financial markets similar to the global financial crisis of 2007 and 2008, George Soros told the European Parliament in Bruss

  5. Hedge Fund Due Diligence Exchange offers complete due diligence reports at $1500[more]

    Matthias Knab, Opalesque: HFDDX is offering complete alternative investment due diligence reports at $1500 US. Industry professionals can simply go to www.hfddx.com and indicate their interest in sponsoring one or more DD Reports for $1500 each.