New York State Common Retirement Fund, Albany, made three alternative investment commitments totaling up to $615 million, according to a notice posted on the website of Thomas P. DiNapoli, the state comptroller and sole trustee of the $242.3 billion pension system.
All of the commitments were made in February.
The pension fund committed $300 million to Hudson River Co-Investment Fund IV, a private equity fund managed by Hamilton Lane that focuses on middle-market companies in New York state, primarily in the health-care, technology, transportation, business services and manufacturing sectors. Hamilton Lane is an existing relationship for the pension fund.
The pension fund made a $300 million commitment to Cortland Enhanced Value Fund VI, a value-added real estate fund. This is a closed-end commingled fund "focused on acquiring, developing and operating value-added multifamily properties primarily in the Southeast and Southwest U.S. markets," the comptroller's website said. Cortland is an existing relationship.
The pension fund also made a commitment of up to $15 million to NW1 NE IOS via its emerging manager program through Empire GCM RE Anchor Fund/GCM Grosvenor. NW1 NE IOS is a real estate fund managed by NW1 Partners that focuses on creating and acquiring industrial outdoor storage properties in Germany, the Netherlands and Sweden. NW1 is an existing relationship.