Big NY state pension allocation takes EM veteran Finisterre to a new level

Fri Mar 26, 2010

Emerging markets total return specialist looks well positioned at a time of fast-accelerating investor interest in gaining more exposure to a broad range of EM asset classes and strategies

The recent allocation by the New York State Common Retirement Fund of a $250 million investment to London-based emerging markets total return specialist Finisterre Capital marks a major leap forward for a firm that has been making steady progress since its launch in 2003.

The move is significant on three counts. For one thing the commitment, which is one of the New York state pension fund's largest single hedge fund investments to date, represents a sizeable allocation from a US pension fund to a non-US hedge fund.

Second, it marks a significant vote of confidence by one of the largest and savviest US institutional investors in a group whose assets, despite several years of strong and consistent performance, were around $700 million in total at the time of the New York investment.

And third, it highlights the fast-growing appetite of major investors to increase their exposure to emerging markets generally...

ISSN: 2151-1845 / CDC10004H

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