The New York State Common Retirement Fund has been shying away from public equities over the past year and has not made any commitments to the asset class in eight of the past 10 months. The $284 billion pension giant also cashed out, in June, $2.1 billion it had invested in a public equity fund, according to its monthly transaction report.
Investment activity in June was relatively subdued, with $925 million allocated to just three asset classes. Within private equity, the pension fund allocated $250 million to the Avance Investment Partners II fund managed by Avance Investment Management. The fund will target companies that provide technology services; infrastructure and commercial services; consumer products and services; and financial and insurance services.
The NYSCRF committed $125 million within its real estate portfolio to the Brookfield Strategic Real Estate Partners V Co-Invest Fund from Brookfield Asset Management. The fund invests alongside the Brookfield Strategic Real Estate Partners V fund, which focuses on large-scale, undervalued or struggling assets, including real estate operating companies.
Under the pension’s opportunistic absolute return strategies portfolio, the NYSCRF allocated $550 million to the TPG GP Solutions II fund managed by TPG Capital. The fund invests exclusively in general partner-led deals.
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New York State Common Retirement Fund Assets Rise to $272.8B With 5.82% Return
New York Common Retirement Fund Cuts Public Equities in Favor of Alts
Tags: New York State Common Retirement Fund (NYCRF)
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