Mon, Jun 27, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers May 2014

Emerging Manager Bulletin: Latest developments within the emerging manager community

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%. Allocations 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 maintain relationships with managers that transition out of the emerging threshold. Currently, those managers graduate out of the program and the city must terminate its relationship...

You can read Bailey McCann's full article here. Northern Lights buys stake in Buick Capital, which will be renamed Northern Lights Alternative Advisors, LLP

Northern Lights Capital Group, LLC, a provider of strategic capital and resources to boutique asset management firms, has made an investment in Buick Capital Partners, LLP......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

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. Opalesque Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. 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