NEWS

NYS Common commits over $3bn to private markets

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.