NYSTRS approves $900m in PE commitments

The US public pension has backed five funds across four managers in its latest cycle of private equity commitments.

Institution: New York State Teachers’ Retirement System
Headquarters: Albany, United States
AUM: $109.50bn
Allocation to alternatives: 24.90%
Bitesize: $100-200m

New York State Teachers’ Retirement System made $900-million worth of commitments to private equity funds between January and April 2020, according to materials from the pension’s recent board meeting.

The commitments comprise of $100 million apiece to Tenex Capital Partners Fund III and One Rock Capital Partners III; $200 million to Sterling Group Partners V; and $500 million to a pair of vehicles managed by Thoma Bravo: $300 million to fund XIV from its flagship series and $200 million to Discover Fund III.

The $109.50 billion US public pension has an 8.0 percent target allocation to private equity that currently stands at 8.60 percent.

As illustrated below, NYSTRS’ aforementioned batch of five private equity commitments comprises of four buyout funds, with Tenex Capital Partners III being the sole fund focused on turnaround investments.

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