Peter Carey will join SkyBridge Capital on Nov. 8 as managing director and head of the firm’s institutional hedge fund business.
The position is new, confirmed Suzanne Hallberg, a SkyBridge spokeswoman.
Mr. Carey will focus on providing institutional investors with customized hedge fund portfolios.
He was director of absolute-return strategies at the office of the New York state comptroller, division of investment and cash management, which manages the $124.8 billion New York State Common Retirement Fund, Albany.
Mr. Carey joined the comptroller’s office in the third quarter 2007 and was responsible for moving the $4 billion portfolio to mostly investing directly in single and multistrategy hedge funds, from a hedge fund-of-funds approach.
Dennis Tompkins, spokesman for state Comptroller Thomas P. DiNapoli, didn’t return calls seeking information about Mr. Carey’s replacement.
At SkyBridge, Mr. Carey will work closely with Raymond Nolte, managing partner and chief investment officer, Ms. Hallberg confirmed. Mr. Nolte and his investment team joined SkyBridge when the firm acquired Citi Alternative Investments earlier this year. At the time of the acquisition, CAI managed $4.2 billion in hedge funds of funds, hedge fund seeding vehicles and pension fund advisory services.