The New York State Common Retirement Fund, Albany, committed $550 million to two private equity funds, said Matthew Sweeney, spokesman for state Comptroller Thomas DiNapoli, the sole trustee of the $180.7 billion pension fund.
It made a $400 million commitment to Vista Equity Partners V, which Mr. Sweeney described in an email as specializing in investments in enterprise software companies. The pension fund has made a total of $525 million in other commitments to funds managed by Vista Equity Partners, he wrote.
The pension fund also made a commitment of $150 million to CCMP Capital Investors III, which “invests in control buyouts and growth equity investments in four industry sectors — consumer/retail, health care, energy, and industrial,” Mr. Sweeney wrote. This is the pension fund’s first commitment to CCMP Capital Advisors since the firm was spun off from J.P. Morgan Partners in 2006, Mr. Sweeney wrote.
The pension fund had made a commitment of $164 million to the J.P. Morgan Partners Institutional Fund in 2001, he added.
Separately, the pension fund cut a total of $900 million from four global equity managers.
The state pension fund reduced its allocation by $300 million from the BlackRock Russell 2000 index fund and $200 million each from the Capital Guardian EAFE portfolio, the Morgan Stanley EAFE strategy and the Brandes Investment Partners global portfolio, according to a transaction report.
The website didn’t identify the reasons for the pension fund actions or the remaining amounts in each of the four investments. Mr. Sweeney did not provide additional information by press time.
