New York State Common Retirement Fund, Albany, committed $230 million to the Finisterre Emerging Markets Fund, a hedge fund, and $100 million to Brookside Capital Partners, an equity long-short fund, according to a news release.
The fund also terminated large-cap equity managers Brandywine Global and Lynmar Capital Group, according to the release from Thomas DiNapoli, state comptroller and sole trustee of the $129.4 billion fund. Brandywine ran $220 million in value, and Lynmar managed $42 million in growth.
Separately, the fund added $50 million to an existing $100 million commitment with the Invesco Mortgage Recovery Feeder Fund, part of the federal Public-Private Investment Program.
Robert Whalen, spokesman for the fund, could not be immediately reached for further details.