NY Retirement Fund Plowed $1.4B into Alternative Assets in June
The New York State Common Retirement Fund (NYSCRF), which manages $242 billion in assets, allocated more than $1.4 billion to alternative investment strategies in June.
NYSCRF committed $685 million to private equity and $475 million to credit strategies, according to the pension fund’s public records.
TA Associates’ TA XV received a $450 million allocation. The fund focuses on consumer, financial services, technology, business services and healthcare sectors.
EagleTree Capital secured $125 million from NYSCRF for its EagleTree Partners VI vehicle. The fund invests in consumer, specialty industrials and media and business services sectors primarily in North America.
Providence Strategic Growth (PSG) Equity collected a $110 million commitment for its PSG Europe II. The strategy takes stakes in software and tech-enabled companies in Western Europe.
Within credit, NYSCRF allocated $375 million to MSD Empire Fund, managed by MSD Partners. The separately managed account will invest in privately negotiated loan packages to non-sponsored companies.
A $100 million allocation to AB Carval Investor’s CVI Excelsior Opportunities Fund; a separately managed account that invests alongside the CVI Clean Energy Fund B II. The fund seeks to capitalize on credit opportunities in clean energy, renewable energy and energy storage space.
NYSCRF’s real estate portfolio continues to grow within separate account and fund vehicles as well. The pension system committed $87.4 million through a MetLife Investment Management separate account.
A $150 million investment was made in the Bell Value-Add Fund VIII. Managed by Bell Partners, the closed-end commingled fund purchases mid- to large-sized apartment communities in US markets.
Within the emerging manager program, a $19.15 million allocation was made to private equity fund Long Ridge Equity Partners IV through HarbourVest Partners. The strategy focuses on growth-oriented investments in the lower-middle market business and financial services companies in North America.