Pine River Capital Management has closed its Pine River Fund to new capital at $4.5 billion, said company spokesman Patrick Clifford. He would not comment further.
The global multistrategy relative value hedge fund’s investors include the $43.6 billion Illinois Teachers’ Retirement System, Springfield; the $15.5 billion Kentucky Retirement Systems, Frankfort; and the $13.2 billion West Virginia Investment Management Board, Charleston.
Pine River is an alternative investment fixed-income specialist with assets under management of $15 billion, which include hedge, mortgage, credit and tail-risk funds, among other strategies.