New York State Common Retirement Fund, Albany, made a pair of alternative commitments in May totaling $770 million, according to the website of Thomas DiNapoli, sole trustee of the $254.8 billion pension fund and the state comptroller.
The pension fund made a $750 million credit commitment to ICG Excelsior, managed by Intermediate Capital Group. The fund will initially focus on Intermediate Capital Group's European subordinated debt and equity strategies, the comptroller's website said.
The pension fund also made a $20 million private equity commitment to Charger Investment Partners Fund I.
The fund "will make control investments in North American middle market companies" primarily in the manufacturing, consumer products, hospitality and business services sectors, the website said.
The commitment to Charger is part of the New York pension fund's emerging managers programs through M2 NY Pioneer Fund II, which is advised by Muller and Monroe.
Both managers are new relationships for the pension fund.
