By Mario Marroquin
The New York State Common Retirement Fund deployed over $4 billion in private equity, real estate and credit strategies in June. According to monthly disclosures by State Comptroller Thomas DiNapoli, the $272 billion AUM fund succeeded its deployment of $1.7 billion in May with a total of 14 commitments for funds targeting assets in the U.S. and Europe.
DiNapoli reported the fund penned the following investments in June:
· $500 million to Pictet Global Environmental Opportunities strategy for global equities.
· $273.8 million to Bridgepoint Europe VII L.P., a private equity fund focused on Western Europe.
· $60.8 million to Marble Arch Albany Co-Investment L.P., a private equity fund investing alongside Bridgepoint Europe VII L.P.
· $50 million to New York Credit SBIC Fund II L.P., a private equity fund by Hamilton Lane targeting debt investments in the lower middle-market in New York State.
· $400 million to Hamilton Lane NY Israel Fund II L.P, a private equity fund targeting tech and life sciences co-investments in Israel.
· $365 million to Knickerbocker Co-Investment Partners L.P., an opportunistic fund investing alongside CVC Capital Partners’ funds active in Europe, the Americas and North America.
· $500 million to an open-ended, separately managed account managed and sponsored by Principal Real Estate Investors, which focuses on core stabilized assets in the United States.
· $500 million to JP Morgan Strategic Property Fund, an open-ended comingled fund investing in core real estate in the U.S. managed and sponsored by JP Morgan Investment Management.
· $200 million to Fairfield U.S. Multifamily Core Plus Fund II, a closed-end core plus fund investing in multifamily assets in the U.S.
· $500 million to Blackstone Real Estate Partners X L.P., Blackstone’s latest global flagship real estate fund.
In addition, the Common Retirement Fund penned two commitments to two funds invested in credit strategies in June. Both commitments, totaling $350 million, were made to funds managed by Sixth Street Partners.
Despite a tumultuous first half of the year for the public equities market, the state’s retirement fund has invested a total of $1.3 billion in global equities funds since March.
DiNapoli’s office reported the state retirement fund saw a 9.51% return for its fiscal year ended in March.