New York Common Retirement Fund, Albany, made five alternative investment commitments totaling $1 billion in July, according to information posted on the website of Thomas P. DiNapoli, the state comptroller and sole trustee of the $268.3 billion pension fund.
According to the website, the commitments included three private equity transactions:
- $400 million to KKR North America Fund XIII, managed by KKR & Co. The buyout fund will concentrate on upper-middle-market investments in the consumer, health care, industrials, financial services and technology, media, and telecommunications sectors in North America, the website said. KKR is an existing relationship for the pension fund.
- $200 million to Roark Capital Partners VI, managed by Roark Capital Group. Roark is a new relationship for the pension fund. The buyout fund will invest in franchise businesses in the restaurant, specialty retail, business services, and health and wellness sectors, primarily in North America.
- $20 million to Motive Capital Fund II through the M2NY Pioneer Fund II, which is advised by Muller & Monroe Asset Management, a partner in the pension fund's emerging managers program. The fund manager, Motive Partners, is an existing relationship. The Motive fund will invest in the in technology businesses in the financial services sector, the website said.
The pension fund also made a $200 million commitment to Brightwood Capital Fund V, a direct lending fund managed by Brightwood Capital Advisors. The fund "will primarily extend senior secured loans to companies in the lower/middle-market," the website said. Brightwood is an existing relationship.
The pension fund also made a $200 million opportunistic absolute-return commitment to Carlyle Aviation Leasing Fund, managed by Carlyle Aviation Partners. This is a closed-end aviation assets fund focused on acquiring, managing and leasing "in-production, young or soon-to-be-delivered aircraft with 10- to 12-year leases attached," the website said. Carlyle Aviation Partners is an existing relationship.
