Hedge fund law eyed in New York state

Date: Tuesday, March 20, 2007
Author: Pensions & Investments

Public pension plans in New York state would be allowed to invest in hedge funds and hedge funds of funds under the terms of a bill introduced in the state Assembly. The bill would require some level of transparency from any hedge fund or fund-of-funds managers handling assets for the $144 billion New York State Common Retirement Fund and the $94 billion New York State Teachers’ Retirement Fund, both in Albany, as well as the $115 billion New York City Retirement Systems.