NY State CRF Allocates $850M to PE, PC Funds

The New York State Common Retirement Fund (CRF) made investments totalling $850M in two tech-focused private equity funds and a Warburg Pincus private credit strategy, according to its monthly transaction report for October.

The state pension allocated $250M to PE growth vehicle Summit Partners Growth Equity Fund XII; $300M to large buyout fund Clearlake Capital Partners VIII; and $300M to opportunistic private credit Warburg Pincus Capital Solutions Founders Fund. New York CRF said the PE investments closed on October 1 and 2, while the private credit investment closed on October 10. 

The pension’s transactional activity in the month prior saw 14 deals in private equity, real estate, private credit, and venture capital funds, as reported by Dakota on November 18. The September transactions represented its highest monthly activity in alts investments, totaling $4.2B.