New York State Common Retirement Fund, Albany, made six commitments totaling up to $1.5 billion, according to a notice posted on the website of Thomas P. DiNapoli, the state treasurer and sole trustee of the $226.4 billion pension fund.
The commitments, which were made in October, include one international equity, two private equity and three real estate transactions.
The pension fund committed $500 million to a LSV international equity account managed by LSV Asset Management. No further details were available.
The private equity commitments were $400 million to Thoma Bravo Fund XIV, a buyout fund that focuses on U.S. software companies. Thoma Bravo is an existing relationship. Also, $5 million was committed to New Era Capital Partners II through the Hamilton Lane/NYSCRF Israel Investment Fund. New Era Capital Partners is a new relationship for the pension fund. New Era Capital Partners II will make early stage venture capital investments in the software industry.
The real estate commitments were:
- $500 million to PRISA. PRISA is a open-end commingled fund that invests primarily in U.S. core real estate assets, the website said. PRISA is sponsored by PGIM, the money management arm of Prudential Financial.
- €100 million ($121 million) to NREP NSFIV CIV IV SCSP, a co-investment alongside NREP Nordic Strategies Fund IV, the website said. NREP Nordic Strategies Fund IV is an opportunistic real estate fund focused on commercial and residential properties in Sweden, Norway, Denmark and Finland. The pension fund made a €200 million commitment to the fund in August.
- $15 million to Scarlet Fire through the Empire GCM RE Anchor Fund, which is advised by GCM Grosvenor, an emerging manager program partner for the pension fund. Scarlet Fire is a real estate joint venture with Corten Real Estate Partners that focuses on middle-market, transitional real estate investments, the website said. Corten Real Estate Partners is a new relationship.
