NYSTRS confirms $904m in commitments

The US public pension backed five private equity funds in commitments worth nearly $1bn in Q1 2021.

Institution: New York State Teachers’ Retirement System
Headquarters: Albany, US
AUM: $118.76 billion
Allocation to alternatives: 24.6%

New York State Teachers’ Retirement System confirmed $904 million-worth of commitments to private equity funds in Q1 2021, according to meeting materials from the pension’s April 2021 meeting.

The commitments comprised $300 million to Hellman & Friedman Capital Partners X; $125 million to Monomoy Capital Partners IV; and €150 million to The Cinven Strategic Financials Fund and a related co-investment vehicle. A further $300 million was committed to a pair of mezzanine funds: $100 million to Comvest Credit Partners V and $200 million to H.I.G. Whitehorse Direct Lending 2020 Fund.

NYSTRS has an 8 percent target and current allocation to private equity.

As illustrated below, the $118.76 billion US public pension’s recent private equity commitments have predominantly targeted North American, European or global buyout funds.

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