New York State Common Retirement Fund, Albany, made six commitments to alternatives during October for a total of up to $1.2 billion, according to a notice on the website of New York State Comptroller Thomas P. DiNapoli, the sole trustee of the $233.2 billion fund.
The pension fund made a $400 million real estate commitment to GCM Grosvenor Empire II, managed by GCM Grosvenor. This fund has "a focus on small, emerging and diverse U.S. managers through selected investments," the website said. GCM Grosvenor is an existing relationship.
The pension fund made a $350 million real estate commitment to EQT Exeter Industrial Value Fund VI, managed by EQT Exeter. This fund "will focus on the acquisition and development of industrial assets in North America, primarily in the United States," the website said. EQT Exeter is an existing relationship.
The pension fund also made a credit commitment of $325 million to Domain Excelsior Fund, managed by Domain Capital Advisors, which will invest in "entertainment assets that seek to generate predictable cash flow streams and adjacent opportunistic entertainment investments," the website said. Domain Capital is a new relationship.
The pension fund also made three commitments — all new relationships — through its emerging managers program:
- Vertu Partners Fund I, managed by Vertu Capital, for C$95 million ($71 million), "to provide expansion and growth capital to Canadian business-to-business companies with a focus on late-stage growth equity and mid-market buyouts," the website said.
- Matter Real Estate Fund II SCSP, for up to $25 million through the Empire GCM RE Anchor Fund/GCM Grosvenor, an emerging manager program partner in the real estate asset class. This fund "targets asset classes with strong end-user dynamics, including single-family build-to-rent and affordable residential, seniors housing, student housing, and healthcare," the website said.
- Integrum Capital Partners for $20 million through M2 NY Pioneer Fund III/Muller & Monroe, an emerging manager program partner in the private equity asset class. Integrum "will focus on control investment in technology-enabled services companies, based or with significant operations in North America," the website said.
