New York State Common Retirement Fund approves $1.39bn commitments

Institution: New York State Common Retirement Fund
Headquarters: Albany, United States
AUM: $193.73bn
Allocation to alternatives: 21.40%
Bitesize: $200-500m

New York State Common Retirement Fund has agreed to commit up to $1.39 billion across five funds, the pension disclosed in its December 2018 monthly report.

New York State Common Retirement Fund has agreed to commit up to $400 million to Brookfield Capital Fund V, up to $400 million to Thoma Bravo Fund XIII, up to $300 million to KKR Global Impact Fund, up to $150 million to TSSP Opportunities Partners IV (A) and up to $39.85 million to Boyu Capital Fund IV. Brookfield’s, KKR’s and Boyu Capital’s funds are all focused on venture capital / growth equity, whereas Thoma Bravo’s fund is focused on buyouts with TPG’s focused on mezzanine / debt.

The $192.73 billion US public pension has a 10.0 percent target allocation to private equity which currently stands at 6.4 percent.

New York State Common Retirement Fund has made 23 commitments focused on private equity with 2018 vintage, which combined constitute $5.46 billion.

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