Institution: New York State Teachers’ Retirement System
Headquarters: Albany, US
AUM: $109.5 billion
Allocation to alternatives: 26.2%
New York State Teachers’ Retirement System approved $1.32 billion worth of private equity commitments between April and June 2020, according to the pension’s July 2020 board meeting minutes.
The commitments comprised $300 million to Silver Lake Partners VI; $200 million to DCP Capital Partners II; £100 million ($132 million; €111 million) to Livingbridge 7; €100 million to Vitruvian Investment Partners IV; $100 million to JFL Equity Investors V; and $15 million to Amulet Capital Overage I.
NYSTRS also committed $400 million to three corporate debt funds: $200 million to Blue Torch Credit Opportunities Fund II; $100 million to MGG Investments’ open-ended SF Evergreen Fund; and $100 million to MGG’s Special Opportunities Fund.
Finally, NYSTRS committed $75 million to mezzanine vehicle Peninsula VII.
The $109.5 billion US public pension has an 8 percent target allocation to private equity that currently stands at 8.6 percent.
As illustrated below, NYSTRS has a diverse focus when it comes to its private equity commitments, with a variety of strategies considered including buyout, mezzanine, turnaround and co-investment.
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