New York State Common Retirement Fund, Albany, disclosed four commitments and investments made in July totaling $610 million, according to the website of Thomas P. DiNapoli, the state comptroller and sole trustee of the $216.2 billion pension fund.
In private equity, the pension fund committed $225 million to Searchlight Capital III, a buyout fund managed by Searchlight Capital Partners, $185 million to Warburg Pincus China-Southeast Asia II, a companion fund to growth equity fund Warburg Pincus Global Growth, and a $100 million direct investment in New York Business Development Corp., which underwrites loans to small businesses in New York state.
In real assets, the pension fund committed $100 million to ISQ Co-Investment Fund II, a co-investment fund managed by I Squared Capital that will deploy capital alongside ISQ Global Infrastructure Fund II, to which the pension fund committed $300 million in 2018.
As of Dec. 31, the most recent data available, the pension fund had actual allocations of 9.2% to private equity and 8.5% combined to real estate and real assets.
Separately, the pension fund terminated a $160 million frontier markets portfolio managed by Morgan Stanley Investment Management in July. Jennifer Freeman, Mr. DiNapoli's spokeswoman, said the termination was due to "strategic rebalancing." Assets were reallocated to cash.
As of Dec. 31, the actual allocation to international equities was 15.3%.