New York State Common Retirement Fund, Albany, made commitments to alternative investments totaling $716 million, according to the website of Thomas P. DiNapoli, state comptroller and sole trustee of the $273.4 billion pension fund. The commitments were made in January.
The pension fund committed $400 million to Stellex Capital Management an existing relationship, split between Stellex Capital Partners III ($300 million commitment) and Stellex III Co-Investment NY ($100 million commitment). The former seeks to make control-oriented investments in middle-market businesses in North America and Europe, the website said. The latter is a sidecar vehicle for the former.
The pension fund also made a $300 million commitment to TA Clarendon East, a buyout fund managed by TA Associates Management. TA Associates is an existing relationship for the pension fund. TA Clarendon East will invest alongside TA XV-A focusing on software, financial services, business services and healthcare primarily in the U.S. and Western Europe.
In addition, the pension fund made a commitment of $16 million to Architect Equity Fund I, a buyout fund managed by Architect Equity Management, through the emerging manager program M2 NY Pioneer Fund III/Muller and Monroe. The fund will take control-equity positions in industrial, business services and consumer staples companies. Architect Equity is a new relationship for the pension fund.
The pension fund also reported it made an follow-on commitment of $2 billion — bringing the total to $4 billion — to the FTSE Russell TPI Climate Transition index as part of its public equities portfolio. “The account was funded from internally managed domestic equity accounts,” the website said.
The pension fund also terminated Martin Currie from an international equities fund. A spokesman for DiNapoli said the pension fund doesn’t comment on terminations. The $570 million Martin Currie had managed was allocated to cash.
