New York State Common Retirement Fund, Albany, made a $10 million commitment to Tribeca Venture Partners through the pension fund's in-state private equity program, confirmed, Nikki Jones, a spokesman for state Comptroller Thomas DiNapoli, the sole trustee of the $173.2 billion pension fund.
This is the second commitment to Tribeca Venture Partners, Ms. Jones said in an e-mail; the first was for $25 million in 2006.
“The $10 million commitment to Tribeca is earmarked specifically for New York companies and will leverage millions more in private investment,” Mr. DiNapoli said in a news release issued Thursday.
The in-state private equity program works with 18 private equity managers that invest in New York state-based companies, the news release said. The pension fund has invested $684 million in 256 companies around the state through the program, which began in 1999.