Emerging Manager Program
The Emerging Manager Program offers opportunities to newer, smaller and diverse investment management firms to help grow the
State’s Common Retirement Fund. The Fund is one of a few public pension plans to establish an emerging manager program and has committed $5.2 billion into the program.
Strengthen the Fund’s value
The Fund manages and invests on behalf of over one million New York State and local government employees, retirees and beneficiaries. By employing prudent selection processes and opportunistic strategies, the Fund can continue to meet its pension obligations in the future.
Diversify the investment portfolio
The Fund takes the long-term approach by not only diversifying its investments, but also growing its pool of fund managers. By accessing fresh talent and investment opportunities from new and small investment firms, the Fund can generate returns that meet or exceed industry benchmarks.
Provide opportunities for women and minorities
The Fund is committed to opening doors that were sometimes shut in the past to minority- and women-owned businesses. Promoting the participation of these firms brings in new ideas, perspectives and personnel, helping the Fund continue to earn strong returns.
Emerging Manager & MWBE Conference - February 17, 2017 in Albany, NY
Each year we invite up-and-coming investment managers to meet with Fund staff and program partners to learn about the Fund’s investment decisions and monitoring processes. This year, speakers included Linda Johnson Rice, Chairman, Johnson Publishing Company and Ebony Media (Emeritus) and Elinor Ruth Tatum, Publisher and Editor in Chief, The New York Amsterdam News.
"One of my top priorities has been to expand the diversity of our manager pools. The firms in our Emerging Manager Program, the majority of which are minority- and women-owned, have proven to be more entrepreneurial, focusing on smaller ends of the market. These investments have created a stabilizing force for the Fund."
- Thomas P. DiNapoli, State Comptroller
Highlights from 2016 Conference
The program has nine program partners who oversee the emerging managers on behalf of the Fund. The partners source, perform due diligence and recommend managers to participate in the program. Each year, the Fund seeks to graduate emerging managers to be direct investments by the Fund. More than 20 emerging managers have graduated from the Emerging Manager Program.
Select an asset class below for eligibility criteria and contact information for each program partner.
If you have individual inquiries please contact the Emerging Manager Team at email@example.com.
- Committed an additional $2.3 billion to the program since 2007.
- Committed $400 million to Leading Edge for a new small cap investment program. (2015)
- Committed additional $500 million to Artemis Estate for real estate investments, and an additional $300 million to Bank of America Merrill Lynch for private equity investments. (2014)
- Committed $200 to Pine Street Alternative Asset Management for opportunities investments. (2013)
- Committed $250 million to Farol Investment Advisors for private equity co-investments. (2012)