Three of the five pension funds in the New York City Retirement Systems have made a total of $600 million in hedge fund investments, confirmed Matthew Sweeney, a spokesman for city Comptroller John Liu, who oversees the $139.2 billion pension systems.
All are first-time transactions with the respective hedge fund firms, Mr. Sweeney said in an e-mailed response to questions. The three city pension funds making the investments were the $46.9 billion New York City Employees' Retirement System, the $29.2 billion New York City Police Pension Fund and the $9.3 billion New York City Fire Department Pension Fund.
The investments are:
- a total of $200 million to Perry Capital — $110 million from the employees' fund, $68 million from the police department fund and $22 million from the fire department fund;
- a total of $150 million to Pharo Macro Fund, managed by Pharo Management — $83 million from the employees' fund, $51 million from the police department fund and $16 million from the fire department fund; and
- a total of $250 million to Carlson Capital — $138 million from the employees' fund, $85 million from the police department fund and $27 million from the fire department fund.
