New York State Common Retirement Fund is investing $340m in institutional investor-backed Capital Constellation Inc., which takes stakes in growth-stage, specialist private-equity managers.
With this commitment, the New York State pension fund will become an equal partner in Capital Constellation alongside investors that include Alaska Permanent Fund Corp., the Public Institution for Social Security of Kuwait (“PIFSS”) and the British pension fund Railpen, according to Daniel Adamson, president of Capital Constellation.
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Capital Constellation is an innovative joint venture among major asset owners. Recognized as the “Partnership of the Year” at Institutional Investor’s Allocators’ Choice Awards in 2018, Capital Constellation is designed as a collaborative asset owner platform with significant capital and expertise from some of the world’s premier institutional investors. Capital Constellation pursues a private equity strategy that provides growth capital to private alternative asset management firms.
Source: Business Wire
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