NY Common Commits $100M Across Three Alts Managers

In April, following an investment of almost $1 billion in alternative investments in March, the New York State Common Retirement Fund (NYSCRF) made a commitment to technology-focused private markets and real estate, including a co-investment and sidecar offering.

Recent investment filings indicate that NYSCRF allocated slightly more than $100 million across three managers specializing in real asset, real estate, and private equity strategies.

In real assets, DigitalBridge Group secured a $50 million mandate for a co-investment related to its DigitalBridge Partners III. The closed-end fund purchases digital infrastructure assets such as macro cell towers, data centers, fiber, small cell networks, edge infrastructure, and other associated businesses. DigitalBridge, in collaboration with Silver Lake, recently participated in the Vantage Data Centers deal and currently serves as a manager in NYSCRF’s program.

NYSCRF also invested in two emerging managers focused on real estate and private equity.

The Empire GCM RE Anchor Fund, managed by GCM Grosvenor, received a $7.5 million commitment to GP5 Sidecar JV. The sidecar will co-invest with Griffith Fund V, focusing on opportunities in the life science and industrial/flex sectors.

The NYSCRF Transition Annex Fund, advised by HarbourVest Partners, allocated $50.5 million to ZM Capital Fund IV. The fund focuses on investing in tech-enabled enterprises in the media, entertainment, and communications sectors, specifically targeting lower middle-market companies in North America.