The New York State Common Retirement Fund, Albany, made six commitments totaling $1.59 billion, according to the website of Thomas DiNapoli, the state comptroller and sole trustee of the $225.9 billion pension fund.
The transactions, all made in March, include three private equity commitments, one real estate commitment, an opportunistic alternative commitment and a real assets commitment:
- Vista Credit Partners Fund III, for $500 million. The fund, managed by Vista Equity Partners, "will invest in senior secured loans across enterprise software, data, and technology companies," the website said. Vista is an existing relationship.
- Clearlake Capital Partners VI for $180 million. The fund, managed by Clearlake Capital Group, will invest in North American companies "that are undergoing complex financial, operational, or structural change," the website said. Clearlake is an existing relationship.
- Pitango Growth II for $10 million, through the Hamilton Lane/NYSCRF Israel Fund. The fund, managed by Pitango Venture Capital, will make "late stage venture investments" in technology and life sciences companies. Pitango is an existing relationship.
- Blackstone Tactical Opportunities Fund III for $400 million. This opportunistic alternatives fund, managed by Blackstone Group, is an add-on the pension system's previous commitments to two Blackstone Tactical Opportunities funds. "It will source and execute on differentiated deal flow, constructing a portfolio with well-protected downside and low correlation to public markets," the website said. Blackstone is an existing relationship.
- Ares European Property Enhancement Partners III for €318 million ($352 million). The investment is a closed-end, diversified European commingled real estate fund, managed by Ares Management U.K. Ltd., an indirect, wholly owned subsidiary of Ares Management Corp., the website said. Ares is an existing relationship.
- ITE Rail Fund for $150 million, managed by ITE Management. This real assets fund is an open-ended railcar leasing fund focusing on acquiring, managing and leasing railcars, primarily in North America, the website said. ITE is a new relationship.
