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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: www.finisterrecapital.com

- FG