The New York State Common Retirement Fund, Albany, made commitments and investments totaling $900 million in September, according to information posted on the website of Thomas DiNapoli, the state comptroller and sole trustee of the $181 billion pension fund.
The pension fund made a $300 private equity commitment to Blackstone Core Equity Partners, managed by Blackstone Group, which will target high-quality growth companies primarily in the U.S., according to the comptroller's website.
The pension fund also made a $300 million opportunistic alternatives commitment to Brightwood Capital Fund IV, managed by Brightwood Capital Advisors. ”The firm focuses on the lower-middle market in the U.S. by providing senior secured loans and mezzanine loans to facilitate organic growth, acquisitions, recapitalizations and management buyouts,” the comptroller's website said.
Both Blackstone and Brightwood are existing relationships for the pension fund.
The pension fund also invested an additional $300 million in a Wellington Management active international equity separate account. The pension fund had $700 million invested in the strategy prior to the addition, Matthew Sweeney, a spokesman for Mr. DiNapoli, wrote in an e-mail. The account was funded from cash.
The pension fund also cut $500 million from a Franklin Templeton Investments global equity separate account. Mr. Sweeney wrote that the reduction — the money was allocated to cash — was based on a reallocation of funds, adding that the Franklin Templeton account still holds $1.4Templeton Investments global equity separate account. Mr. Sweeney wrote that the reduction — the money was allocated to cash — was based on a reallocation of funds, adding that the Franklin Templeton account still holds $1.4Templeton account still holds $1.4 billion.