Searches and Hires

New York State Common earmarks $1.13 billion to private equity

New York State Common Retirement Fund, Albany, committed $1.13 billion to five private equity funds, according to a notice posted on the website of Thomas DiNapoli, the state comptroller and sole trustee of the $209.1 billion pension fund.

All commitments are to firms with which the pension fund has done business previously, said the comptroller's transaction report for February. The largest commitments were €300 million ($370 million) to EQT VIII, which targets large buyout investments primarily in northern Europe, and $350 million to TPG Growth IV, which "will target market-leading companies with growth profiles primarily across growth and buyout transactions globally," the transaction report said.

The pension also committed $200 million each to Vista Opportunistic Credit Fund I, which is managed by Vista Equity Partners and will focus on primary and secondary loans in the private software debt market, and GSO Capital Solutions Fund III, which will concentrate on upper-middle-market companies in the U.S. and Europe and is managed by GSO Capital Partners, whose parent company is Blackstone Group.

Also, New York State Common committed $10 million to JVP VIII, which is managed by Jerusalem Venture Partners and will make venture technology investments in Israel.