Hedge Funds Institutional Investors

New York State adds long/short strategies


The $117 billion New York State Common Retirement Fund has made $150 million in long/short equity allocations in recent months.

Officials recently announced a $75 million allocation to Diamondback Partners that closed on 1 June. This latest long/short equity allocation followed an add-on commitment of $75 million to Horseman Global Fund back in May. A few months earlier, trustees allocated to the Landsdowne UK Equity Fund, which also has a long/short equity focus.

The state pension plan posted a positive 7.7% rate of return for the quarter ended 30 June 2009. New York State Comptroller Thomas DiNapoli said that