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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.

The New York City Police Pension Fund has approved an investment in a hedge fund, The Wall Street Journal reports. 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, adds Pensions & Investments. The hedge fund allocation by the $23.1 billion retirement system is expected to total around $150 million.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Pensions & Investments.

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