New York State Common Retirement Fund, Albany, terminated Goldman Sachs Asset Management, which ran a $600 million ACWI ex-U.S. equity account for the $132.6 billion retirement fund, according to a news release from New York State Comptroller Thomas P. DiNapoli, the fund’s sole trustee.
Robert Whalen, a spokesman for the fund, said the decision to terminate was made as a part of rebalancing the portfolio. The fund is reducing its equity exposure as part of an asset allocation change approved in November 2009, he said.The fund also made a $200 million commitment in absolute return to Rock Creek Empire Fund, a captive fund-of-funds within an emerging manager program, and a €20 million ($26 million) commitment to Gilde Buyout Fund IV.
