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FUNDRAISING NEWS | May 03, 2024

NYSTRS Commits $900M to Alts

Tags: Pension Funds, Alternative Insights, Real Estate, Private Credit, Private Equity

The New York State Teachers’ Retirement System approved five commitments to alternative investment strategies including real estate, private equity, and private credit, totalling $900 million. 

Three commitments were made to real estate including a $300 million allocation to Prima Capital Advisors, an opportunistic real estate strategy managed by Prima Advisors. Prima and NYSTRS have a preexisting relationship.

Also disclosed in the meeting materials, a $100 million allocation was approved for GCM RE Debt Investment Partners. An additional $100 million was allocated to GCM RE Equity Investment Partners. Both strategies are managed by GCM Grosvenor.

A $200 million commitment was made to Sterling Group Partners VI, a buyout fund within private equity. NYSTRS has previously invested in The Sterling Group.

Lastly, $200 million was allocated to Crestline Direct Lending IV, a private credit direct lending strategy. This investment creates a new relationship between NYSTRS and Crestline. 

As of March 31, NYSTRS was valued at $143.1 billion in assets under management. 

For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!   New call-to-action

Written By: Jane Bailey, Marketing Associate

Jane Bailey is a Marketing Associate at Dakota.

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