Searches and Hires

New York State Common allocates $650 million to 2 private equity funds

The New York State Common Retirement Fund, Albany, has made two private equity commitments totaling $650 million, according to information posted on the website of Thomas DiNapoli, the state comptroller and sole trustee of the $197.3 billion fund.

The pension fund committed $500 million to Blackstone Capital VIII, which invests in multiple business sectors in North America, Europe and Asia, the website said. Blackstone is an existing relationship.

The pension fund also made a $150 million commitment to FS Equity Partners VIII, managed by Freeman Spogli & Co. This fund "will continue to source middle-market, consumer businesses in the U.S," the website said. Freeman Spogli is an existing relationship.

Both commitments were made in March.

The pension fund also reported adding a $215 million investment to the global equity account managed by Global Alpha Capital Management. The website contained no additional information. Matthew Sweeney, a spokesman for Mr. DiNapoli, did not provide details by press time.