NY State CRF Commits $4.2B to Alts Funds in September Deals

The New York State Common Retirement Fund (CRF) committed a total of $4.2B across 14 private equity, real estate, private credit, and venture capital funds in transactions made throughout September, according to its latest monthly transaction report.

In its private equity portfolio, the pension allocated $300M to large buyout PE fund Blackstone Capital Partners IX, with an additional $500M to its supplemental account; $250M to Blackstone’s growth fund Capital Opportunities Fund V; $500M to middle-market buyout vehicle TPG GP Solutions (A); and $300M to secondaries fund Blue Owl Strategic Equity Partners. Additionally, the pension committed $16.15M, as part of its emerging markets program, to middle-market buyout Trident American Dreams Fund I.

In real estate, Fairfield U.S. Multifamily Value-Add Fund IV received a $250M investment from the pension, and another $150M through its co-investment feature, while WCP NewCold III another value-add real estate fund received $400M. 

In venture capital, General Catalyst secured from the pension $300M each to its flagship early-stage VC Fund XII and its Excelsior fund. 

Finally, in private credit, the pension made a $300M allocation to CLO fund Neuberger Berman Loan Adviser Holdings IV (Delaware); $300M to opportunistic strategy FP Credit Partners III Aggregator; and $360M to Empire Opportunistic Secondary Fund.

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