NY State Pension Returns 11.55% in Fiscal 2024, Dumps Another Stock Fund
The $267.7 billion pension giant cashed out of $3.8 billion worth of equity investments in March and April alone.
The $267.7 billion pension giant cashed out of $3.8 billion worth of equity investments in March and April alone.
The $260 billion pension giant also allocated $1.6 billion across a variety of investments in March.
The New York State Common Retirement Fund exited more than $4.4 billion worth of public equity investments during the first 11 months of 2023, moving more into private equity and emerging managers.
The pension giant also found that venture capital and growth equity have underperformed public equities.
The $254.1 billion pension giant also committed nearly $1 billion in July to a pair of investments within its credit portfolio.
Strong gains from public equity investments raise the portfolio’s asset value to $65.2 billion.
The C$250 billion pension fund also netted a 4.8% return for the 12-month period that ended June 30.
The portfolio’s market value dropped by more than $2 billion last year to $20.2 billion.
Nearly half of the commitments were made to three private equity funds.
Notable among the pension giant’s outlays was a $1 billion investment in a fund managed by Khosla Ventures.