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Rhode Island Shelled Out $16M to Hedge Funds in 2012

May 23, 2013
Jing Chen

The state of Rhode Island paid nearly $16 million to hedge fund managers last year.

Providence Journal reported that documents released by Rhode Island General Treasurer Gina Raimondo indicate that the state paid $15.9 million in fees on its $1 billion hedge fund portfolio in 2012.

Of the state’s investments in 20 hedge funds, the largest fee went to New York-based OZ Domestic Partners with $1.9 million.

The state’s hedge fund portfolio, which makes up 15% of the $7.7 billion the pension fund manages for employees, gained 9.4% over the last year.

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