New York commits $310m across three funds

Lindsay Goldberg’s latest middle market vehicle has garnered a $250m commitment from the public pension giant.

The New York State Common Retirement Fund (NYCRF) has disclosed commitments of $310 million (€216 million) across three private equity funds and a separate $150 million commitment to Lone Star’s recently closed distressed debt and real estate funds.

Middle market specialist Lindsay Goldberg’s third fund garnered the largest investment, $250 million, from the public pension giant.

Lindsey Goldberg Fund III is targeting a final close of $4 billion, according to documents from the Indiana Public Employees Retirement System from last February. The New York-based firm will make investments of $100 million to $500 million in small and middle market companies with an emphasis on lightly leveraged acquisitions of closely held or family-owned businesses, according to documents from the New Jersey State Investment Council’s latest board meeting.

The $154.5 billion NYCRF, which has recently pushed for lifting caps on the amount pensions can invest in alternatives, also invested $50 million in venture capital firm VantagePoint’s second dedicated cleantech fund and $10 million in emerging manager SW Pelham’s third fund.

VantagePoint Cleantech Partners II is targeting a $400 million close, according to Probitas Partners 2008 Private Equity Deskbook.

The pension also disclosed a $100 million commitment to private equity firm Lone Star Fund’s distressed debt vehicle, which closed on $7.5 billion in July, as well as $50 million to a separate Lone Star fund dedicated purely to real estate assets. That fund also closed in July on roughly $2.5 billion.