The $74 billion New York State & Local Retirement Systems, Albany, committed $25 million to FirstCorp. Capital 1996 Fund, a private equity fund that will invest in South Africa and southern Africa, confirmed Cynthia Munk, a system spokeswoman.
New York also committed $50 million to the Lazard Freres Opportunity Fund, a real estate investment, confirmed Ms. Munk.
The investments will be funded from cash flow.
