New York State Common Retirement Fund, Albany, hired BlackRock to manage $2 billion in an MSCI European equity index fund.
Funding came from “all internal index (fund) sales,” said Matthew Sweeney, a spokesman for state Comptroller Thomas DiNapoli, the sole trustee of the $183.5 billion pension fund, in an e-mail. Mr. Sweeney didn't provide details or further explanation.
The pension fund also made four private equity commitments totaling about $398 million, according to information posted on the comptroller's website.
The commitments are:
- $225 million to KSL Capital Partners IV, which focuses on investments in travel and leisure businesses;
- $156.25 million to two funds managed by CVC Capital Partners — $125 million to the CVC Growth Fund and $31.25 million to the CVC Co-Investment Fund; and
- €15 million ($16.4 million) to Corpfin Capital IV through Access/NY European Middle Market Buyout Fund II, an existing separate account managed by fund-of-funds manager Access Capital Partners that focuses on opportunities in Europe.
The pension fund has committed to previous KSL and CVC funds; it is the first commitment to Corpfin Capital.
Mr. Sweeney didn't provide additional information about the private equity commitments.
