The New York State Common Retirement Fund, Albany, made two private equity commitments and one opportunistic alternative commitment in May totaling $567 million, according to information posted on the website of state Comptroller Thomas DiNapoli, the sole trustee of the plan.
The $192 billion pension fund made a private equity commitment of €350 million ($392 million) to CVC Capital Partners VII, which will make "control-oriented buyout investments in Western Europe and North America," the website said. The pension fund has invested with CVC Capital Partners in the past.
The pension fund also made a $150 million opportunistic commitment to Landmark Real Estate Partners VIII, managed by Landmark Partners, which will "invest in real estate-related investments, primarily through secondary market transactions," said the website, adding that the pension fund has invested with Landmark Partners in the past.
Also, the pension fund committed $25 million to New Harbor Capital Fund II, which is managed by New Harbor Capital and focuses on buyout investments "in growth-oriented business service companies," with a special emphasis on health care and education in North America, the website said. It is a new relationship.
The commitment was made through the Pioneer Partnership Fund A II, which is a "customized vehicle for the New York State Common Retirement Fund advised by the HarbourVest Horizon team," Jennifer Freeman, a spokeswoman for Mr. DiNapoli, wrote in an email.