NYSCRF approves more than $540m in commitments

The Albany-based pension fund has backed six private equity vehicles.

Institution: New York State Common Retirement Fund
Headquarters: Albany, US
AUM: $268.3 billion
Allocation to alternatives: 26%

New York State Common Retirement Fund has approved more than $540 million of commitments across six private equity vehicles, according to the pension’s latest allocation report.

The commitments comprise $250 million to KSL Tactical Opportunities Fund I, $150 million to KSL Capital Partners Credit Opportunities Fund III, $100 million to KSL Capital Partners COTO Co-Invest I, $20 million to Wavecrest Growth Partners II, $20 million to Contour Opportunity Fund III, and $3.6 million to Kedaara Capital Growth Fund III.

The commitment to Wavecrest Growth Partners is an existing relationship for the CRF. Nevertheless, the allocation came out of the pension’s emerging manager programme. The second venture fund will be targetting B2B technology growth capital in the lower mid-market across North America.

The $268.3 billion US pension fund has a 10 percent target allocation to private equity which currently stands at that figure. Earlier this year, the actual allocation was 11.2 percent. Private Equity International has observed a reduction in commitments from the pension fund to be in line with the policy target for the fiscal year.

Illustrated below is the current investment portfolio and recent fund commitments made by NYSCRF.

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