New York City Pensions Seek Up to 15 Hedge Funds

By Kelly Bit

Three out of five of New York City’s pension funds, which collectively have about $70 billion in assets, are searching for 10 to 15 hedge funds for direct allocations, according to Seema Hingorani, head of public equities and hedge funds at New York City Comptroller’s Office.

The pensions, New York City Employees’ Retirement System, New York City Police Department and New York City Fire Department, are searching for event-driven funds, global macro managers and commodity trading advisers, Hingorani said. The focus is primarily on event-driven strategies.

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