The New York State Teachers’ Retirement System, Albany, made several private equity commitments and closings, said information prepared for Wednesday’s quarterly board meeting and posted on the $106.5 billion pension fund’s website.
The pension fund closed on a €150 million ($164.6 million) commitment on July 20 to IK VIII, which concentrates on middle-market companies in northern Europe and is managed by IK Investment Partners. The commitment was approved by Thomas Lee, chief investment officer, on May 31 and by the board’s investment committee on June 8. The pension fund has invested with IK Investment Partners previously.
The pension fund also closed on a pair of private equity commitments managed by Inflexion Private Equity Partners — Inflexion Enterprise Fund IV, which focuses on small-cap investments in the U.S., and the Inflexion Supplemental Fund IV, which provides supplemental equity to buyout and partnership investments in certain companies within two other Inflexion funds.
A combined commitment of up to £50 million ($65.5 million) was approved May 9 by Mr. Lee. Each commitment was for £25 million. The combined closing investment was £29 million — £12 million for the Enterprise fund and £17 million for the Supplemental fund — on May 27.