NYC Pensions ‘Hedge’ Bets.
NYC Pensions ‘Hedge’ Bets. The city’s $109 billion pension funds are expected to make their first-ever direct investments in hedge funds early next year, a spokesman for Comptroller John Liu revealed yesterday. “We are beginning to build a direct hedge-fund portfolio, which will be approximately 4 percent to 5 percent of each participating NYC pension fund and should ultimately approach $4 billion,” the spokesman said.
Thank you for the update, Terry. I had several NYC Pensions’ clients a few years back and developed many long lasting, meaningful relationships. I look forward to following their efforts to build the direct hedge-fund platform.