FUNDRAISING NEWS | May 03, 2024
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.
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Jane Bailey is a Marketing Associate at Dakota.
