New York State Common Retirement Fund, Albany, made five new commitments totaling $700 million, according to a monthly transaction report posted on the website of state Comptroller Thomas DiNapoli, the sole trustee of the $173.2 billion pension fund.
The pension fund committed $291 million — plus a $48.5 million “sidecar” commitment — to value-added real estate fund J.P. Morgan Star Lake Fund II. The pension fund committed $285 million to Fund I in January 2008.
Also, the pension fund committed $150 million each to pan-Asian buyout fund Affinity Asia Pacific Fund IV, managed by Affinity Equity Partners; and private equity fund Pine Brook Capital Partners II, managed by Pine Brook Partners. Both are new manager relationships for the pension fund.
The pension fund also committed $40 million to private equity fund ASF Miller Direct B, managed by Ardian, also a new manager relationship.
Separately, the pension fund committed $20 million to private equity fund CDH Fund V, managed by Chinese alternatives money manager CDH Investments. The pension fund made the commitment through the Asia Alternatives New York Co-Investment Pool fund of funds.