New York State Teachers' Retirement System, Albany, approved five private equity commitments and three real estate equity investments, confirmed John Cardillo, a spokesman for the $95.1 billion pension fund.
The private equity commitments were:
- $150 million to Pine Brook Capital Partners II, which specializes in energy and financial services investments, Mr. Cardillo wrote in an e-mail. The pension fund previously committed $75 million to another fund managed by Pine Brook Partners.
- $85 million to KKR Asia Fund II, which focuses on growth and leveraged buyout investments throughout Asia.
- $15 million to Spark Capital IV, an early-stage venture capital fund, Mr. Cardillo wrote.
The teachers' pension fund also made two other private equity commitments that are pending completion of due diligence:
- $150 million to Olympus Growth Fund VI, which specializes in leveraged buyouts in North America, Mr. Cardillo wrote. The teachers' pension fund has made commitments totaling $100 million to two other funds run by Olympus Partners.
- $30 million to Highland Capital Partners IX, an early stage venture capital fund, Mr. Cardillo said.
The teachers' pension fund also approved three equity real estate commitments:
- $75 million to the Gateway Real Estate Fund IV, an Asia-focused fund run by Gateway Capital Partners
- $64.6 million to the Perella Weinberg Real Estate Fund II, focusing on Europe. Mr. Cardillo wrote that the pension fund previously made a $50 million commitment to another Perella Weinberg Partners real estate fund.
- $25 million to Abacus Multi-Family Partners II, a fund run by Abacus Capital Group specializing in residential housing in the U.S.
The teachers' pension fund also made a $17.6 million direct real estate investment with Overton Moore Properties Industrial Joint Venture IV. The joint venture — in which the teachers' pension fund is a 95% equity partner — acquired an industrial park in Chino, Calif., Mr. Cardillo wrote.
The private equity and real estate commitments were presented to the teachers' pension fund board at its quarterly meeting on Thursday.