Finisterre New York Pension Fund

Finisterre New York Pension Fund

Finisterre Launches New Fund with New York Money


UK-based Finisterre Capital, a hedge fund firm specializing in emerging markets, is launching a new fund with $250 million in seed money from New York State Common Retirement Fund.  The New York pension fund is the third largest pension fund by assets, and with this allocation to a hedge fund it has signaled renewed confidence in alternative assets following the financial crisis.  The hedge fund will invest in emerging market sovereign and corporate debt, local currency debt, foreign exchange, special situations and equity.
U.K. emerging-markets hedge fund specialist Finisterre Capital said Monday it has launched a new fund with $250 million in initial capital from the New York State Common Retirement Fund, the U.S.' third-largest pension fund by assets.
The new fund, called Finisterre Emerging Markets Fund, started trading on Jan. 1 and invests in emerging market sovereign and corporate debt, local currency debt, foreign exchange, special situations and equity.
Finisterre, founded in 2002, managed $920 million as of Jan. 1. Other products it offers include the Finisterre Global Opportunity Fund and the Finisterre Sovereign Debt fund.
It said the money from the New York pension fund is locked up for two years. Source

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