New York Retirement Fund Commits $590 Million To Six Alts. Shops

Jan 6 2010 | 12:14pm ET

New York’s public pension fund is continuing to rebuild its alternative investments portfolio following a pay-to-play scandal with $590 million in new commitments.

The New York State Common Retirement Fund made the six investments in November, Pensions & Investments reports.

The recipients of the Empire State’s largesse are led by York Capital Management, whose Distressed Mortgage Fund won a $250 million follow-on commitment. Perella Weinberg Partners’ Xerion credit hedge fund got another $100 million, as did Brigade Capital Management’s Leveraged Capital Structures Fund and Level Global Investors. The latter two are new to the New York fund.

NYSCRF also made a pair of private equity commitments, one new and one a follow-on. DeltaPoint Capital’s Fund IV got another $25 million from the pension, while Clearlake Capital Partners’ second fund earned its first $15 million from New York.


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