New York State Pension commits $3bn to private equity and alternatives

The New York State Common Retirement Fund, one of the largest public pension funds in the US, allocated over $3bn in November 2024. More than $2.7bn went to private equity.

Over the past six months, NYSCRF has committed a total of $5.4bn to private equity.

Among the private equity investments, NYSCRF allocated $2bn across four tranches to Neuberger Berman’s NB Co-Investment Fund III. This fund targets co-investments in North America and Europe. Additionally, the pension committed $300m to Lindsay Goldberg VI, which invests in industrials, services, and healthcare sectors in these regions.

Other commitments included €200m ($205.8m) to Bridgepoint Development Capital V, focusing on Northern Europe, and €50m to Bridgepoint’s Marble Arch Albany V Co-Investment fund. Furthermore, $150m was allocated to Francisco Partners’ FP VII – NYSCRF Co-Investment Fund.

In its real assets portfolio, NYSCRF earmarked $250m for Oaktree Capital Management’s Power Opportunities Fund VII. This fund invests in private companies that provide products and services to critical infrastructure owners. Within its credit portfolio, the pension fund committed $200m to Francisco Partners’ FP Credit Partners III – NYSCRF Co-Investment Fund, a fund-of-one sidecar vehicle.

NYSCRF also made two real estate investments in November. It allocated $43.6m to acquire the Apex Commerce Center, a 233,818-square-foot industrial building in Raleigh, North Carolina. An additional $375,000 went toward the renovation of a residential property in Newburgh, New York.

These strategic allocations highlight NYSCRF’s active diversification efforts across private equity, real assets, and credit. By focusing on high-growth opportunities in alternative investments, the pension fund continues to position itself for sustainable, long-term returns.

Source: Chief Investment Officer

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