Fri, Nov 27, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Finisterre launches Emerging Markets Fund with $250m from New York state pension fund

Monday, January 18, 2010
Opalesque Industry Updates - Finisterre Capital, the fast-growing emerging markets total return specialist, launched the Finisterre Emerging Markets Fund (FEMF) on January 1 with $250 million of initial capital from the New York State Common Retirement Fund (NYSCRF).

FEMF enables investors to gain exposure to the Finisterre strategies in emerging market sovereign and corporate debt, local currency debt, foreign exchange, special situations and equity.

"The purpose of developing the Finisterre Emerging Markets Fund is to enable institutional investors to express their growing interest in emerging markets in a variety of asset classes,” said Paul Crean, Chief Investment Officer of Finisterre Capital.

“The investment from the New York State Common Retirement Fund is testament to that interest and it is our genuine long-short style which distinguishes us from other managers. We are very pleased about being chosen to manage this significant emerging market allocation on behalf of one of the largest pension funds in the US."

Also known as the New York State and Local Retirement System (NYSLRS), NYSCRF has an estimated value (as of November 2009) of $126 billion and is the third largest pension plan in the United States. NYSCRF’s $250 million investment in Finisterre is locked up for two years.

Finisterre assets under management were $920 million at the beginning of 2010. The firm’s flagship Global Opportunity Fund has returned 13.81% annualised since inception (to December 2009) and 35.53% for the year. The Sovereign Debt Fund returned 50.77% last year and the Special Situations Fund 45.38% for the same period. Corpoate website:

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November