NY Common Commits $108M to Alts

The New York State Common Retirement Fund approved three commitments to real assets, real estate, and private equity totalling $108 million, per their monthly transaction report. 

A $50 million investment was allocated to DigitalBridge Partners III. The closed-end fund focuses on acquiring digital infrastructure assets. The investment closed on April 25, continuing an existing relationship for the CRF. 

In the Emerging Manager Program, $7.5 million was allocated to GP5 Sidecar JV, a real estate fund investing alongside Griffith Fund V. GP5 Sidecar JV will invest in life science and industrial/flex opportunities.

Also in the Emerging Manager Program a $50.5 million investment was made to ZM Capital Fund IV. ZM Capital Fund IV seeks to acquire lower middle market North American tech enabled companies in the media, entertainment, and communication sectors.

As of March 31, the $267.7 million Retirement Fund allocates 3.44% to real assets, 9.33% to real estate, and 14.6% to private equity. 

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Written By: Jane Bailey, Marketing Associate

Jane Bailey is a Marketing Associate at Dakota.