Tue, Oct 17, 2017
A A A
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: www.finisterrecapital.com

- 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. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad