The New York State Common Retirement Fund continued to pile money into private equity investments this spring, earmarking another $900 million in commitments to the asset class in May, according to the $273 billion pension giant’s monthly transaction report.
The May allocations followed a subdued April, which was preceded by more than $1.4 billion in private equity allocations in March.
The May allocations to the asset class represent 75% of the $1.2 billion in overall commitments the NYSCRF made during the month. More than half of the private equity commitments were to funds managed by private equity firm Thoma Bravo L.P.
For more stories like this, sign up for the CIO Alert newsletter. ?
The largest private equity allocation was $300 million for the Thoma Bravo Fund XVI, which aims to invest in software companies in the “application, infrastructure, and cybersecurity verticals,” primarily in in North America. The NYSCRF committed another $100 million to the Thoma Bravo Discover Fund V, which has the same objectives as the Thoma Bravo Fund XVI fund.
The NYSCRF committed $100 million to the TB Co-Invest Opportunities (Blue Jay), which will add additional capital alongside the Thoma Bravo XVI and Thoma Bravo Discover Fund V investment vehicles. The investments will mainly be in North American firms.
The pension fund also committed $150 million to the GenNx360 Capital Partners IV fund, managed by the GenNx360 Management Co. The fund will target investments in industrial and business–services companies in North America.
Another $150 million was set aside for the Integrum Capital Partners II fund managed by Integrum Holdings. The fund will seek investments in the financial and business services sectors, mainly in the U.S.
An additional $50 million, on top of an initial $50 million commitment made in 2023, was committed to the TB Empire Opportunities fund managed by TowerBrook Capital Partners. The pension fund invested additional capital alongside the TowerBrook Investors VI fund, which mainly targets investment opportunities in North America and Europe.
The NYSCRF also allocated $50 million to the Integrum Catskill Co-Invest II fund, which will invest additional capital alongside the Integrum Capital Partners II fund, which targets technology?enabled service companies in financial services, fintech, business services and payments.
Within its real estate portfolio, the NYSCRF allotted $200 million to the WCP NewCold Fund N, managed by Westport Capital Partners. The fund is a sidecar vehicle that will co-invest alongside the WCP NewCold III fund.
The pension fund also acquired a mixed-use building in Rome, New York, with 64 residential units for slightly more than $1.8 million. Another 64–residential-unit building was acquired by the NYSCRF for approximately $1.4 million in Ovid, New York.
Within its credit portfolio, the NYSCRF committed $100 million to the PDC Trigger Fund 2024, a fund-of-one seeking dislocated assets. It will invest in distressed collateralized loan obligation debt and equity tranches if activated.
Related Stories:
New York State Pension Bulks Up on Private Equity in $3B Spree
NY State Pension Invested $2.7 Billion in Alts Just Before Market Tanked
Public Pension Funds Continue to Boost Alts Allocations in Search of Higher Returns
Tags: New York State Common Retirement Fund, NYSCRF, Private Equity
#York #State #Pension #Puts #Private #Equity