New York State Teachers' Retirement System, Albany, disclosed new private equity and private debt commitments totaling up to $550 million during the second quarter in materials for its July 28 investment committee meeting.
The $137.9 billion pension fund committed up to $300 million to middle-market buyout fund Nautic Partners X; up to $150 million to Primavera Capital Fund IV, a buyout fund focused on Chinese growth equity and control-oriented investments managed by Primavera Capital Group; and up to $100 million to ABRY Senior Equity VI, a mezzanine debt fund managed by ABRY Partners.
Also during the second quarter, NYSTRS revised two previous commitments.
The pension fund increased its commitment to Amulet Capital Fund II to up to $130 million. NYSTRS originally committed up to $100 million to the buyout fund managed by Amulet Capital Partners in 2019.
The pension fund also increased its commitment to Tenex Capital Partners III to up to $125 million. NYSTRS originally committed up to $100 million to the middle-market buyout fund managed by Tenex Capital Management in 2020.
Each was approved by Thomas K. Lee, executive director and CIO, without a full board vote. NYSTRS' rules allow the CIO to take action without a vote under certain circumstances.
