NYSCRF Pours $475M into Real Assets
The New York State Common Retirement Fund (NYSCRF), which manages $246 billion in assets, increased its real asset program by $475 million in December.
DigitalBridge Group received a $275 million commitment for its DigitalBridge Partners III closed-end fund, which focuses on purchasing digital infrastructure assets such as macro cell towers, data centers, fiber, small call networks, and edge infrastructure. The firm is a new partner for NYSCRF.
The Carlyle Group’s latest renewables fund has received a $200 million pledge. Carlyle Renewable & Sustainable Energy Fund II is a closed-end fund that focuses on middle-market transactions involving traditional renewable energy (wind and solar) and newer energy transition strategies (industrial applications, electric vehicle infrastructure).
Trustees set aside $62 million from the ComRef Heitman Separate Account to purchase The Preserve at Poinciana. The Florida property is a 175-unit Class A single-family rental construction. According to officials, additional closings will take place once the project’s residences are delivered.
The pension fund currently has a $7 billion commitment to real assets. Other strategies selected in 2023 include Stonepeak Opportunities Fund, Castlelake Aviation V Stable Yield fund, Brookfield Asset Management’s Brookfield Infrastructure Fund V and Northleaf Infrastructure Capital Partners (US) IV.