The New York State Common Retirement Fund, Albany, has made eight commitments to alternative investments and one equity investment for a total of $1.28 billion, according to a notice posted on the website of Thomas P. DiNapoli, the state comptroller and sole trustee of the $267.7 billion pension fund. All transactions took place in June.
The pension fund made six private equity commitments, including two commitments to funds managed by J.F. Lehman & Co. for a total of $300 million. Both are new relationships.
One commitment is to JFL Equity Investors VI for $200 million, which will seek investments in the maritime, environmental and infrastructure services, aerospace, and government and defense sectors, the website said. Investments will focus on North America and Western
Europe.
The other commitment, for $100 million, is to JFL VI NYSCRF Co-Invest Partners. This fund will seek to invest additional capital in co-investment opportunities alongside JFL Equity Investors VI, primarily for investments in the North America and Western Europe.
The fund made three commitments to funds managed by One Rock Capital Partners for a total of $250 million. One Rock is an existing relationship.
One commitment is to One Rock Capital Partners IV, for $125 million, which will seek investments in middle-market companies in the chemicals and process industries, specialty manufacturing and healthcare products, food and beverage manufacturing and distribution and business and environmental services sectors, the website said. Investments will be primarily in the U.S.
A second commitment for $75 million is to ORCP IV Delaware Co-Investor 2, which will invest additional capital alongside One Capital Partners Rock IV, primarily in the U.S.
The fund made a third commitment, for $50 million, to One Rock Emerald Fund, which will focus on investments in lower middle-market companies in the chemicals and process industries, specialty manufacturing and healthcare products, food and beverage manufacturing and distribution, and business and environmental services sectors primarily in the U.S.
New York State Common committed $120 million in two tranches of $60 million each to Altaris VI-5084 Co-Invest, managed by Altaris that will seek to invest additional capital in co-investment opportunities alongside Altaris Health Partners VI, the website said. Investments will be primarily in North America. Altaris is an existing relationship.
The New York pension fund announced a real estate commitment of $300 million to Star Lake Opportunity Fund V, managed by J.P. Morgan Asset Management. This fund “is a continuation of the strategy pursued in the manager's predecessor funds and will focus on residential and industrial assets investing in property sectors across primary and secondary markets,” the website said. J.P. Morgan Asset Management is an existing relationship.
The New York pension fund also reported a real estate commitment through its emerging managers program with $10.4 million going to OPC Fund I through the Empire GCM RE Anchor Fund, L.P./GCM Grosvenor, an emerging manager program partner. The fund is managed by OlivePoint Capital, a new relationship. It will “invest residential and industrial equity investments and distressed investments across all property and security types,” the website said.
The New York pension fund also announced a $300 million equity investment in DRZ SMID Cap Value, managed by DePrince, Race & Zollo, a new relationship. The DRZ SMID Cap Value strategy seeks to invest in domestic SMID Cap value opportunities, the website said.
