NY Common Commits $1.6B to Alts; Terminates Global Equity Strategy

The New York State Common Retirement Fund has disclosed five alternative investments totaling approximately $1.6 billion that were made in the month of July.

€360 million (approximately $385 million) was committed to the private equity fund, CVC Capital Partners IX. Also in private equity, $300 million was invested in the H.I.G. Middle Market LBO Fund IV.

In private credit, $250 million was approved for the KSL Capital Partners Tactical Opportunities Fund II. $600 million was also committed to ICG Excelsior, a fund-of-one managed by Intermediate Capital Group.

As part of the Retirement Fund’s Emerging Manager Program, $10 million was committed to the Brasa Real Estate Fund III.

One manager termination was also disclosed in the July transaction report. The Franklin Templeton Global Equity Fund was terminated. The market value of the account at termination was approximately $2.1 billion. Funds will be reallocated to cash.

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.


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