New York State Common Retirement Fund, Albany, made four commitments totaling $725 million in October, according to the website of state Comptroller Thomas DiNapoli, the sole trustee of the $201.3 billion pension fund.
The pension fund made two private equity commitments — $250 million to Insight Venture Partners X, which seeks investments in revenue generating technology companies primarily in the U.S.," according to the comptroller's website, and $75 million to ICV Partners IV, which seeks family- and founder-owned businesses as well as corporate carve-outs in the U.S. The pension fund previously made commitments of $45 million to ICV entities and $30 million to Insight Venture funds.
The pension fund also made a $200 million commitment to Meridiam Infrastructure North America Fund III, which has a focus on public-private partnerships.
"We feel there are compelling opportunities in the North American infrastructure sector," Matthew Sweeney, a spokesman for Mr. DiNapoli, said in an email. This is the pension fund's first commitment to Meridiam and also its first commitment to a North American public-private partnership.
"The current value of the infrastructure portfolio is $426 million as of Nov. 30 (and) total commitments to infrastructure managers stands at $1.6 billion," Mr. Sweeney added. "Our current strategic target calls for approximately $1 billion in additional commitments. However, we will probably revise this target higher."
The pension fund also committed $200 million to M2 NY Pioneer Fund II, managed by Muller & Monroe Asset Management, as part of the fund's emerging manager program. This is a fund of funds aimed at deploying capital to emerging private equity managers, the website said. Muller & Monroe is an existing relationship for the pension fund as the manager of the $240 million M2 NY Pioneer Fund that also invests with emerging managers.
