New York State Common Retirement Fund, Albany, made a series of commitments and investments totaling $2.8 billion during August, according to a notice posted on the website of State Comptroller Thomas P. DiNapoli, the sole trustee of the $267.7 billion pension fund.
The pension fund made three real estate commitments totaling $710 million: to Carlyle Realty Partners X for $400 million; to Principal Data Center Growth & Income Fund for $300 million; and to Matter European Residential Platform for $10 million.
Carlyle Realty Partners is managed by Carlyle Investment Management and is a closed-end fund targeting opportunistic returns, the website said.
Principal Data Center Growth & Income Fund is managed by Principal Real Estate Investors and is a closed-end data center fund.
Matter European Residential Platform is part of the pension fund’s emerging managers program for real estate, managed by Matter Real Estate and offered through the Empire GCM RE Anchor Fund/GCM Grosvenor.
All of the above managers are existing relationships.
The pension fund made two opportunistic absolute return strategy commitments totaling $350 million: to Empire Co-Invest III for $200 million and to Insight Partners Opportunities Fund II for $150 million. Both are managed by Insight Venture Management, which is an existing relationship to the pension fund.
The latter targets equity investments in growth-stage software companies primarily in Western Europe and North America, the website said. The former will invest additional capital alongside Insight Partners Opportunities Fund II.
The pension fund also made a $300 million credit commitment to Warburg Pincus Capital Founders Fund, a commingled vehicle managed by Warburg Pincus. This fund “targets highly structured transactions that combine strong downside protection with equity-like upside,” the website said. Warburg Pincus is an existing relationship.
The pension fund made a $400 million follow-on credit commitment to Domain Excelsior Fund, a fund-of-one managed by Domain Capital Advisors. This fund invests in entertainment assets. The New York pension fund made a $325 million commitment in November 2022.
The pension fund also made an additional $1 billion investment to the BlackRock MSCI Climate Change Index, managed by BlackRock, bringing its total investment to $3 billion.
