Institutional Investors

New York launches hedge fund emerging manager programme

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The $132 billion New York State Common Retirement Fund allocated $200 million to The Rock Creek Group to manage the first instalment of the new emerging manager component of the fund's hedge fund portfolio.

Rock Creek will play a key role in developing the emerging manager hedge fund portfolio, focusing on newer firms, firms with assets totalling less than $500 million, and women and minority-owned firms, according to State Comptroller Thomas DiNapoli. Led by the former World Bank treasurer and chief investment officer, Afsaneh Beschloss, Rock Creek has extensive experience in trading, portfolio management