New York City ERS Allocates $687M to Six Private Infra, Equity Funds

The New York City Employees’ Retirement System (ERS) reported another $687M in allocations across five infrastructure funds and one buyout fund, according to agenda materials from its December 18, 2024, meeting.

In infrastructure deals made as early as May of last year, the pension committed $177M to KKR Global Infrastructure Investors V, $108.2M to Asterion Industrial Infra Fund III, $100M to Manulife Infrastructure Fund III, and $153.7M to InfraVia European Fund VI. 

Additionally, the pension said it made an investment of $74M each to middle-market buyout TPG Rise Climate II and its co-investment feature in a transaction that closed in September 2024. 

As of June 30, 2024, New York ERS had allocated $2.5B to infrastructure and $9.4B to private equity out of a total portfolio valued at approximately $86.3B.