New York State Common Retirement Fund, Albany, committed $30 million with PCG International for private equity investments in Northern Ireland, spokesman Robert Whalen said.
PCG International will manage the $121.9 billion plans new Emerging Europe Program, through which the private equity investments will be made. The commitment is the first investment under the program.
According to a statement from New York State Comptroller Thomas DiNapoli, the plans sole trustee, the early groundwork for this investing program started last May when (Mr.) DiNapoli visited the North of Ireland.
The initial investment in Northern Ireland should close in the coming weeks, the statement said.