Hedge Funds Institutional Investors

New York State furthers direct investments as alleged kickbacks investigation widens


The $154 billion New York State Common Retirement Fund has made an additional $235 million in direct hedge fund investments.

A new investment of $100 million went to global macro manager Brevan Howard, while a $55 million add-on allocation was made to Viking Global Equities III, a long/short equity fund. An additional $40 million apiece was committed to the tactical trading-focused BlueTrend Fund and event-driven debt fund King Street Capital.

At the same time, the investigation into alleged kickbacks relating to past hedge fund and private equity investments continues.