NYSTRS approves $200m commitment

The US public pension has backed a North American and European-focused fund.

Institution: New York State Teachers’ Retirement System
Headquarters: Albany, US
AUM: $119.9 billion
Allocation to alternatives: 24.2%

New York State Teachers’ Retirement System committed to a private equity fund from TCV, according to materials from an October 2020 meeting.

The retirement system agreed to invest up to $200 million to TCV XI, a venture and growth equity fund that invests in the TMT sector. The vehicle is targeting $3.25 billion and will focus specifically on enterprise IT, internet and software services.

The $119.9 billion pension’s private equity asset class sits at 7.4 percent.

As illustrated below, NYSTRS makes investments between $100 million and $300 million to private equity funds.

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