New York State Common Retirement Fund, Albany, made nearly $350 million in commitments in September, according to a notice posted on the website of state Comptroller Thomas DiNapoli, the sole trustee of the $201.3 billion pension fund.
The pension fund made a $300 million commitment to Blackstone Real Estate Partners Asia II, managed by Blackstone Group. The pension fund also made a $40 million commitment to Vistria Fund II, managed by Vistria Group, described by the comptroller's website as "an emerging private equity firm that focuses on health care, education and financial service company opportunities in North America."
The Vistria commitment was made through the M2 NY Pioneer Fund, which is “a fund of funds targeted at emerging managers” and managed by Muller & Monroe Asset Management, according to an email from Matthew Sweeney, a spokesman for Mr. DiNapoli.
The pension fund also made a $9.4 million commitment to Kedaara Capital II, which focuses on investments in midsized Indian businesses across various sectors.
The commitment was made through the Asia Alternatives IV program, described by Mr. Sweeney as a “fund-of-funds manager that also provides investors with separate account capability.” This arrangement allows the pension fund to make “supplemental commitments to Asia-based managers and other Asia investments” approved by Asia Alternatives Management for its primary fund-of-funds vehicle, Mr. Sweeney wrote.
It is the first time the pension fund has made a commitment to Kedaara Capital Investment Managers; it has invested with Blackstone and Vistria Group previously.