NYSCRF commits $700m to PE

Institution: New York State Common Retirement Fund
Headquarters: Albany, US
AUM: $242.3 billion
Allocation to Private Equity: 14.77%

The New York State Common Retirement Fund (NYSCRF) has committed $700 million to two private equity funds, a source at the pension fund has confirmed.

The commitments comprised of $350 million each for PSC EP Discretionary Co-Invest III and Patient Square Equity Partners. A new partnership for the pension fund is Patient Square Capital, which makes investments in growth-oriented businesses with extensive exposure to the healthcare sector.

Founded in 2020, Patient Square Capital is a California-based healthcare investment firm that focuses on buyout investments in the healthcare sector across the US.

NYSCRF’s private equity portfolio is a 14.77 percent alternative investments portfolio. As of December 2022, it is valued at $242.3 billion. As illustrated below, the pension’s recent private equity commitments have focused on North American vehicles with buyout strategies.

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