P&I 1,000: The Largest Retirement Plans
2008 P&I 1,000
Issue Date: January 21, 2008
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| New York State Common Retirement Fund | |
| Assets are in millions of dollars. | |
| Total assets | $164,363 |
| Defined benefit | $164,363 |
| DEFINED BENEFIT PLAN: | |
| Employer DB contributions | $2,719 |
| Benefit payments | $6,383 |
| Asset mix: | |
| Domestic stock | 40.7% |
| International stock | 17.7% |
| Domestic fixed income | 21.7% |
| Cash equivalents | 4.8% |
| Private equity | 7.0% |
| Real estate equity | 4.3% |
| Mortgages | 0.5% |
| Other | 3.3% |
| Internally managed assets | $93,431 |
| ALBANY, N.Y. - As of Sept. 30, the New York State Common Retirement Fund's total employee benefit assets - all defined benefit - increased 13.9% from a year earlier. Employer contributions to the defined benefit plan decreased 2.3%; benefits paid increased 5.9%. | |
| The fund became a co-lead plaintiff with the New York City Retirement Systems in a class-action suit against Countrywide. The funds, along with other municipal pension funds in the state, could sustain a combined $100 million loss related to their holdings of Countrywide Financial. The fund had no direct subprime holdings. The fund is also looking for firms to provide trade execution services for its $80.8 billion internally managed index funds. The search is part of the fund's customary four-year review of its trading relations. The fund is also increasing funding of its emerging managers program by $1 billion. The fund also announced it plans to identify all portfolio companies with business operations in Iran related to the country's defense and energy sectors. | |
| Domestic equities: Alliance Capital, Oppenheimer Capital, CapGuardian, Jacobs Levy, Chicago Equity Partners, BGI, Wells Capital, Brown Capital, New Amsterdam Partners, Fan Asset, Hoover Capital, EARNEST Partners, Rasara Strategies, Systematic Financial Management, Cardinal Capital, GlobeFlex Capital, Franklin Portfolio Associates, Goldman Sachs, Quantitative Management Associates, Value Line, AJO, Brandywine, T. Rowe Price, Bennett Lawrence, Channing Capital, Holland Capital, Sasco Capital, Shenandoah, Steinberg, Apex Capital, Denali Advisors, Mastrapasqua, Oakbrook Investments, Piedmont Capital, Profit Investments, Rutland Dickson, Vantage Consulting Group, | |
| International equities: BGI, Alliance Capital, Baillie Gifford, CapGuardian, Baring International, Morgan Stanley, Bank of Ireland, Templeton Investments, Mondrian, Brandes, Acadian Asset, Boston Co., Brandywine, Goldman Sachs. | |
| Real estate: Aetna, ACA Advisors, Apollo Management, Blackstone Group, Canyon-Johnson, Capmark, Carlyle Group, Cherokee Advisers, CIGNA, City Investment, Colony Capital, Community Preservation Corp., Cypress Grove International, Heitman Capital, ING Clarion, JPMorgan, Landmark Partners, Lazard Freres Real Estate, Lone Star, Morgan Stanley, Olympus Real Estate, Praedium, Rockpoint, RREEF, Sentinel Advisors, Stockbridge Real Estate, UHY Advisors, Warburg Pincus, Westbrook Real Estate. | |
| Alternative investments: ABV, Access Capital Advisers, ACOF, Aisling Capital, Apax Partners, Apollo Management, Ascend Ventures, Avenue Capital, Bear Stearns, Berhman Capital, Blackstone Group, Blum, Brait Capital, Brazos, Bridgepoint, Carlyle Group, Charterhouse Capital, Clessidra, Coast Asset, Consulting Services Group, Credit Suisse, CVC, Cypress Group, DeltaPoint, EHNY, EQT Partners, Ethos, Fairview Capital, First Albany, Founders NY, Freeman Spogli, GE, GKM Newport, Goldberg Lindsay, Goldman Sachs, Green, Greenhill Venture Partners, Guggenheim Advisors, Hamilton Lane, HarbourVest, Heritage, High Peaks, Horsley Bridge, Hunt Financial, InterMedia Advisors, JPMorgan, JLL Partners, KKR, Lexington Capital, Lion Capital, Madison Dearborn, Mariner, MeriTech Capital Partners, Mezzacappa Investors, Och-Ziff Capital Management, Olympia Capital Management, Olympus Partners, Pacific Corporate Group, Paladin Capital. Pequot Capital, Performance Equity Management, Permal, Providence Equity Partners, Quadrangle, Ramius Advisors, Renaissance, Stonington Partners, Strategic Co-Investment Partners, TA Associates, Thomas H. Lee, TLP Management, TPG Partners, Venture Capital Fund of America, Vestar Associates, Warburg Pincus, Wheatley NY Partners, Yucaipa. | |
| The investment consultant is Strategic Investment Solutions. | |
| Key personnel overseeing the investment management of the defined benefit plan are Nick Smirensky, acting deputy comptroller; and William Barrett and Marjorie Tsang, assistant comptrollers. | |
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To purchase a hard copy or electronic reprints, please contact Laura Picariello at (732) 723-0569 or email lpicariello@crain.com.
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