New York State Common Retirement Fund has added the Pharo Macro Fund with a $100 million allocation.
The $130 billion pension fund has made more than $1.3 billion in direct hedge fund allocations since the start of 2009. Other managers hired to invest in global macro, event-driven, long/short equity and credit strategies include allocations to COMAC Global Macro Fund, King Street Capital, Brookside Capital Partners Fund and Finisterre Emerging Markets Fund.
The Pharo allocation closed on 1 March. The global macro fund focuses on emerging markets. With 38 investment professionals and support staff, Pharo currently manages more than $3