The New York State Comptroller committed over $600 million to private equity managers in November, according to recently released documents.
The New York State Common Retirement Fund, the country’s third-largest public pension plan, added two new funds to its private equity portfolio. Vista Equity Partners received $500 million from the fund, known as the CRF, to focus on its strategy of investing in mid- and large-capitalization enterprise software businesses in North America, and CVC Capital Partners took more than $114 million to target stable, large-cap companies in Europe and North America.
November’s capital commitment pales in comparison to the more than $1.1 billion CRF dispersed in October. In that month, CRF granted $325 million to Hellman & Friedman and $300 million to KSL Capital Partners, which invests in the travel and leisure industry. The state also continued its regional private equity strategy in Asia. It devoted two separate amounts totaling $500 million from the CRF to Asia Alternatives’ New York Co-Investment Pool Asia III fund.
The CRF invests in private equity partnerships directly and through separately managed accounts.
With more than $200 billion of total assets under management, the State of New York’s pension is 94.5 percent funded and regarded as one of the nation’s healthiest.
Benjamin Glick is ACG Global’s marketing and communications associate.