Bloomberg – New York State Common Retirement Fund, the third-largest U.S. pension plan, invested $250 million in an emerging-market hedge fund run by Finisterre Capital LLP, as institutional managers seek to tap into growing economies.
The $126 billion state pension plan provided seed capital for the Finisterre Emerging Markets Fund that started Jan. 1, according to Paul Crean, chief investment officer of London- based Finisterre. The fund feeds into three existing Finisterre funds with investments in emerging-market sovereign and corporate debt, currencies, equities and special situations such as mergers and tender offers, the firm said today.
