By Muskan Arora
The $274.6bn New York State Common Retirement Fund has allocated
over $3bn to its private markets, out of which $2.7bn was allocated to PE in November.
Over the last six months, the pension plan has allocated approx.
$5.4bn to PE, which included no allocations during August 2024.
The system returned 4.2% for the three months ending Sept 30,
as announced on Nov 20.
In November, the fund allocated to four tranches of $500m to NYSCRF NB Co-Investment Fund III, with a focus on North America and Europe. Further, within PE, the system allocated $300m to Lindsay Goldberg VI, which seeks investments in the industrials, services, and healthcare sectors.
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Additionally, NYSCRF committed $205.8bn to Bridgepoint Group’s Bridgepoint Development Capital V fund, which focused on investments in the technology, services and health care sectors, targeting Northern Europe. Another €50 have been allocated to Marble Arch Albany V Co-Investment. $150m were committed to Francisco Partners’ FP VII, a co-investment fund with a focus on North America.
Within RE, the system allocated $250m to Oaktree Capital
Management’s Oaktree Power Opportunities Fund VII, with a focus to control
investments in private companies that provide products and services to critical
infrastructure owners.
The fund also committed $200m to its credit portfolio to FP
Credit Partners III, a fund-of-one co-investment sidecar vehicle.
Lastly, the pension plan made two RE deals during the month
consisting of $43.6m to take over Apex Commerce Center, an industrial building
in Raleigh, North Carolina. Another one was a four-unit walk-up residential
building in NY for $375,000.