New York State Common Retirement Fund, Albany, made $2.55 billion in investments and commitments in January.
The pension fund hired BlackRock to run a $2 billion unconstrained fixed-income allocation. “This portfolio is designed to seek out relative value across all fixed-income instruments, which could include bank debt, emerging markets debt and high yield,” said Matthew Sweeney, a spokesman for state Comptroller Thomas DiNapoli, the sole trustee of the $181.7 billion pension fund, in an e-mail.
“The money was a reallocation of our core fixed-income portfolio,” Mr. Sweeney added.
The pension fund also hired Iridian Asset Management to run $400 million in an active U.S. midcap equity strategy, Mr. Sweeney wrote, adding that the investment was funded from cash.
The pension fund also made a first-time $150 million commitment to the P2 Brasil Private Infrastructure Fund III. Mr. Sweeney described P2 as a firm that invests in early-stage companies that support Brazil’s infrastructure. Examples of investments include telecommunications and hydroelectric power generation.