New York State Pension Earmarks $850M for Private Equity, Credit Investments

After committing approximately $7.6 billion in investments over the previous two months, the New York State Common Retirement Fund had a quiet October, making commitments worth slightly more than $850 million, most of which was earmarked for its private equity portfolio, according to the fund’s October transaction report.

The pension fund made two investments within its private equity during the month totaling $550 million. It allotted $300 million to the Clearlake Capital Partners VIII fund managed by Clearlake Capital Group. The fund aims to invest in the technology, industrials, and consumer sectors in North America.

The other $250 million will go to the Summit Partners Growth Equity Fund XII fund managed by Summit Partners L.P. The fund seeks investments in the technology, health care and life sciences, and growth products and services sectors, mainly in the U.S. The investment with Summit marks a new relationship for the NYSCRF.

Within its credit portfolio, the pension fund set aside $300 million for the WPCS FF EXCELCIOR fund, which is a fund-of-one co-investment side car vehicle managed by WPCS Manager. The fund invests alongside the Warburg Pincus Capital Solutions Founders Fund managed by Warburg Pincus. The Founders Fund closed fundraising in September with $4 billion, twice what it was targeting when it launched 2023. The fund seeks “thesis-based investing opportunities in curated structured transactions.”

For more stories like this, sign up for the CIO Alert newsletter. 

Within its real estate portfolio, the NYSCRF paid $464,466.62 for a property in Newburgh, New York that consists of two rehabilitated walk-up apartment buildings.