Finisterre Capital, an emerging markets total return specialist, has launched the Finisterre Emerging Markets Fund with USD250m of initial capital from the New York State Common Retirement Fund. 

The fund enables investors to gain exposure to the Finisterre strategies in emerging market sovereign and corporate debt, local currency debt, foreign exchange, special situations and equity.
 
"The purpose of developing the Finisterre Emerging Markets Fund is to enable institutional investors to express their growing interest in emerging markets in a variety of asset classes,” says Paul Crean, chief investment officer of Finisterre Capital.
 
“The investment from the New York State Common Retirement Fund is testament to that interest and it is our genuine long-short style which distinguishes us from other managers. We are very pleased about being chosen to manage this significant emerging market allocation on behalf of one of the largest pension funds in the US."
 
New York State Common Retirement Fund has an estimated value of USD126bn and is the third largest pension plan in the US. Its investment in Finisterre is locked up for two years.