New York State CRF approves more than $1.1bn in commitments

The pension has backed six private equity vehicles including Knox Lane's first fund.

Institution: New York State Common Retirement Fund
Headquarters: Albany, US
AUM: $279.70 billion
Allocation to alternatives: 22.5%

New York State Common Retirement Fund has approved a total of $1.19 billion of commitments to various private equity vehicles, according to the pension’s February transaction report.

The commitments comprise $800 million to Ares SSG Capital Partners VI, $200 million to Clearlake Capital Partners VII, $150 million to Hull Street Energy Partners II, $25.5 million to KLC Fund I, $10 million to J-Star No.5 Investment Limited Partnership, and $5 million to NFX Capital Opportunity Fund I.

The commitment to Knox Lane‘s first fund was made through the pension’s emerging manager programme. The transaction was advised by HarbourVest Partners. The KLC fund aims to invest in middle market companies within the consumer and services sectors in North America.

The $279.7 billion pension fund has a target allocation of 10 percent towards private equity, which currently stands at 10.6 percent. Illustrated below are the recent fund commitments made by the pension fund.

 

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