New York State Common Retirement Fund, Albany, made nine commitments totaling $1.7 billion, according to the website of Thomas P. DiNapoli, the state comptroller and sole trustee of the $215.4 billion pension fund.
All transactions were completed in November.
In private equity, the pension fund made the following commitments:
• Green Equity Investors VIII for $400 million. Managed by Leonard Green & Partners, the fund will focus on retail, business services and health care in North America. The pension fund has invested with Leonard Green in the past.
• MBK Partners Fund V for $65 million, which will make buyout investments in South Korea, Japan and China. MBK is an existing relationship. The commitment was made through the NYAI Co-Investment Fund III, a separate account managed for the pension system by Asia Alternatives, which makes private equity investments in Asia.
• Fortissimo Capital V for $20 million. "Fortissimo makes growth equity investments in companies that are based in Israel or in international companies with a connection to Israel," said Matthew Sweeney, a spokesman for Mr. DiNapoli, in an email. The commitment was made through the Hamilton Lane/NYSCRF Israel Investment Fund, a separate account managed by Hamilton Lane. Fortissimo Capital is an existing relationship.
• Polaris "Jewel" Capital Fund V for $20 million. "Polaris invests in mid- to-large market buyout transactions in Japan, including investments that fund corporate succession and carve-out transactions," Mr. Sweeney wrote. The Polaris commitment was made through NYAI Co-Investment Fund III.
• NexPhase Capital Fund IV for $20 million through the pension fund's emerging manager program. The commitment was made through the M2NY Pioneer Fund II, which is advised by Muller and Monroe, a partner in the emerging manager program. NexPhase Capital Fund IV is a closed-end, commingled investment vehicle that will invest in middle-market companies in the health-care, software, services and consumer sectors. NexPhase is an existing relationship.
The pension fund also made two opportunistic alternatives commitments of $200 million each to SSG Capital Partners V and SSG Capital Partners V Sidecar, both managed by SSG Capital Management. The former will invest primarily in "special situations and distressed investments" in the Asia-Pacific region, focusing on China, India and Southeast Asia, the website said. The latter is a co-investment vehicle. Both are new relationships for the pension fund.
Real assets accounted for $750 million in commitments, with $500 million going to Global Infrastructure Partners IV and $250 million going to Global Infrastructure Partners IV Co-Investment Renewables Sidecar. Both are new relationships. The former will invest in "large scale infrastructure assets" in the energy, transport, water, waste and renewable energy sectors, the website said. Primary markets are North America, Europe, Asia and Australia. The latter will invest in renewable energy generation assets.
