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Alternative Assets  + Latest News  + Private Equity  + Real Estate  | 
New York State Common Retirement Fund Invests Nearly $1B in Private Equity, Real Estate Strategies

New York State Common Retirement Fund Invests Nearly $1B in Private Equity, Real Estate Strategies

The New York State Common Retirement Fund, with $242 billion in managed assets, invested $983 million in various private equity and real estate strategies within its main investment program and through its emerging manager portfolio, according to filings.

As of the end of last year, the fund had 43.49% of its assets invested in publicly traded equities. The remaining assets by allocation are invested in cash, bonds, and mortgages (22.07%), private equity (14.77%), real estate and real assets (13.43%) and credit, absolute return strategies and opportunistic alternatives (6.24%).

Officials allocated funds to a private equity strategy managed by healthcare-focused Patient Square Equity Partners within its opportunistic absolute return strategies portfolio. A $350 million commitment was made to Patient Square Capital and another $350 million to a co-investment vehicle PSC EP Discretionary Co-Invest III.

Within real estate, a $200 million commitment went to Artemis Real Estate Partners Fund IV, a diversified closed-ended value-add/opportunistic fund that focuses on making debt and equity investments in middle market real estate and real estate-related business in the US.

Another $68.1 million in capital was put to work in the Williamsburg real estate submarket in Brooklyn, NY through a MetLife Investment Management Separate Account.

Within the emerging manager program, a $15 million commitment was made to the Raith Real Estate Fund III through the Empire GCM RE Anchor Fund, which is managed by GCM Grosvenor.

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New York State Common Retirement Fund

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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