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NY Police Fund To Make HF Investment
The New York City Police Pension Fund has approved an investment in a hedge fund.
TheNew York City Police Pension Fundhas approved an investment in a hedge fund,The Wall Street Journalreports. The pension fund will make an allocation to alternative asset management firm,Permal Group.
Funding for the new mandate for will come from the fund’s opportunistic equity portfolio, addsPensions & Investments. The hedge fund allocation by the $23.1 billion retirement system is expected to total around $150 million.
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