Institutional Investors

New York City pensions taps consultant Aksia

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The New York City Employees, Fire and Police pension funds have contracted with Aksia to serve as a hedge fund investment consultant to analyse potential investments in the asset class.

The three-year contract began on 1 January. Aksia’s other clients include the New York State Common Retirement Fund. With a combined $66 billion in assets, the city pension funds have yet to formally allocate to hedge funds, according to the comptroller’s office spokesman Mike Loughran.

That said, last fall the $38 billion New York City Employees Retirement System decided to withdraw assets from