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NYS Comptroller

THOMAS P. DiNAPOLI

Program Partners: Absolute Return and Opportunistic


The Rock Creek Group
Hedge Fund Program
1133 Connecticut Avenue NW
Washington, DC 20036
(202) 331-3400
www.therockcreekgroup.com

Eligibility Criteria

  • The emerging manager must be a Registered Investment Advisor.
  • The emerging manager must be a fiduciary to the Fund.
  • The emerging manager must have a verifiable, historical performance record for the product being offered, and principals with investment management experience.
  • The emerging manager fund will generally have less than $500 million in firm-wide assets at the time the the Fund makes its commitment.
  • The emerging manager fund will generally have an investment performance history of less than three years.
  • In specific circumstances, some of these constraints may be relaxed.

Pine Street Alternative Asset Management
Seed/Accelerator Program
7 Times Square, 37th Floor
New York, NY 10036
(646) 415-7203
www.pinestreetalt.com

Eligibility Criteria

  • The emerging manager must be a Registered Investment Advisor.
  • The emerging manager must be a fiduciary to the Fund.
  • The emerging manager must have a verifiable, historical performance record for the product being offered, and principals with investment management experience.
  • Target assets under management: $0 – $200 million, exclusive of the pending commitment from Pine Street and the Fund.
  • Target Track Record: Start-Up to 5 years. Note: Start-Ups will tend to be “second-generation” managers that have experience at other hedge funds. Any emerging manager with a track record of less than five years may utilize track records established at prior firms when performance can be clearly attributed to the emerging firm’s key individuals and/or the specific team associated with the strategy being considered.
  • Target Pine Street/the Fund Allocation to emerging managers: $50 – $100 million in committed capital.
  • Target Pine Street/the Fund Revenue Share from emerging managers: 20 – 30 percent. Note: Pine Street/the Fund Investments in emerging hedge fund managers will exclusively utilize separately managed account infrastructure and will be subject to pre-established investment guidelines.