Institutional Investors

New York adds $90m to emerging portfolio

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The $141 billion New York State Common Retirement Fund added another $90 million to the Rock Creek Empire Fund.

Rock Creek’s emerging-manager fund of funds received an initial $200 million allocation earlier in 2010 as part of the pension fund’s hedge fund programme. Led by the former World Bank treasurer and chief investment officer, Afsaneh Beschloss, Rock Creek has extensive experience in trading, portfolio management and risk management, and in offering emerging-manager portfolios.

The goal was to focus on newer firms with assets totalling less than $500 million, and women- and minority-owned firms,