New York State Pension Commits $550M in February
More than $400 million of the investment was made within the pension fund’s real estate portfolio.
The New York State Common Retirement Fund committed more than $550 million in February in another relatively quiet month for the pension giant. More than $400 million of that amount was earmarked for one fund within its real estate investment portfolio.
The $260 billion pension fund has invested $400 million in the NYSCRF Frontier Mach III fund, the most recent version of the NYSCRF’s emerging manager program managed by Artemis Real Estate Partners.
Also within its real estate portfolio, New York Common funded a mortgage of more than $1.2 million for the gut rehabilitation of a three-story building in Nyack, New York, that consists of five residential units and approximately 2,200 square feet of ground floor commercial space.
Within its opportunistic absolute return strategies portfolio, the NYSCRF committed $150 million to the B Capital Opportunities Fund II. The commingled fund, managed by B Capital Group Management and closed in March with $750 million in commitments, aims to make primary and secondary investments in later-stage companies in technology, health care and climate tech, with a focus on North America and Asia. The majority of the fund sought follow-on investment opportunities in existing, high-performing B Capital portfolio companies, while another portion of the fund invested in new opportunities.
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