New York State Common Retirement Fund, Albany, made 11 commitments totaling $1.08 billion in March, a newly released transaction report shows.
The report, posted on the website of Thomas DiNapoli, the state's comptroller and sole trustee of the $247.7 billion pension fund, disclosed within its real estate asset class a commitment of $300 million to LaSalle Property Fund, an open-end core real estate fund managed by LaSalle Investment Management; $200 million to Oaktree Real Estate Opportunities Fund VIII, a distressed real estate fund managed by Oaktree Capital Management; and $150 million to Kayne Anderson Real Estate Partners VI, an opportunistic real estate fund managed by Kayne Anderson Capital Advisors.
In its emerging manager program, the pension fund committed $250 million to Avance Investment Partners, a middle-market buyout fund managed by Avance Investment Management, and up to $10 million to Roxborough Fund III, an opportunistic real estate fund managed by The Roxborough Group.
The Roxborough commitment was made through the Empire GCM Anchor Fund, which is advised by emerging manager program partner GCM Grosvenor.
In its credit asset class, the pension fund committed €100 million ($120 million) to Madison Square Fund II, a European lower middle-market private credit fund managed by Blantyre Capital.
In private equity, the pension fund completed four new commitments 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: $25 million to buyout fund Boyu Capital Fund V; $5 million to growth equity fund Boyu Capital Growth Fund I; $5 million to late-stage venture capital fund 5Y Capital Growth Fund I; and $3 million to early stage venture capital fund 5Y Capital Evolution Fund II.
Also in private equity, the pension fund committed $10 million to Viola Ventures VI, an early stage venture capital fund that invests in Israeli technology companies. The commitment was made through the Hamilton Lane/NYSCRF Israel Investment Fund, a separate account managed by Hamilton Lane.