New York State Common Retirement Fund, Albany, reduced its investment in the BlackRock Russell 2000 Index Fund by $900 million to about $2.4 billion effective March 1, confirmed Eric Sumberg, a spokesman for New York state Comptroller Thomas P. DiNapoli, the sole trustee of the $147.2 billion pension fund.
The $900 million was moved to cash, Mr. Sumberg wrote in an e-mail. “These transactions were made pursuant to the Common Retirement Fund's general strategic plan,” he added.
Separately, the pension fund announced a $73 million commitment to Centerbridge Special Credit Partners II, a distressed debt fund focused on North America and Europe, Mr. Sumberg wrote.
The pension fund had invested $150 million in an earlier Centerbridge fund, Capital Partners II, he added.
The pension fund reported it will commit up to $125 million for private equity fund GenNx360 Capital Partners II, a “midmarket buyout fund with industrial and service sectors, mostly (in) North America,” Mr. Sumberg wrote. He added that the pension fund had invested $60 million in GenNx360 Capital Partners I.
A first-time commitment of $15 million was made to the Turkven Private Equity Fund III through the 57 Stars Emerging Europe Fund. Turkven emphasizes private equity opportunities in Turkish companies, Mr. Sumberg wrote. The 57 Stars Emerging Europe Fund is a fund of funds focusing on emerging markets opportunities in Europe, he added.