New York City selects two hedge funds to run $450 million total
By Robert Steyer | February 7, 2013 3:17 pm
New York City Retirement Systems hired two hedge fund firms to run a total of $450 million, confirmed Michael Loughran, spokesman for New York City Comptroller John Liu, custodian and trustee of the $127. 5 billion system.
Mr. Loughran in an e-mail said first-time investments were made this month totaling $200 million to systematic global macro manager Cantab Capital Partners and $250 million to an event-driven strategy run by Fir Tree Partners.
Mr. Loughran said the hedge fund investments were made by three of the city pension funds — the $43.1 billion New York City Employees' Retirement System, the $26.8 billion New York City Police Pension Fund and the $8.5 billion New York City Fire Department Pension Fund.