US. New York State Common allocates $350 million for in-state co-investments
New York State Common Retirement Fund, Albany, committed $350 million total to a pair of investment funds through its In-State Private Equity Investment Program.
The pension fund committed another $50 million to the Hudson River Co-Investment Fund III, in addition to the $300 million previously committed, confirmed Mark Johnson, a spokesman for Thomas P. DiNapoli, the state comptroller and sole trustee of the $279.7 billion pension fund.
The pension fund also announced a $300 million commitment to the new Hudson River Co-Investment Fund IV.
“The funds make equity co-investments (investments alongside a lead sponsor) in growing New York-based companies,” said a Monday news release issued by Mr. DiNapoli.
“The funds will generally invest in healthcare, technology, transportation, business services and manufacturing companies,” the news release said. Hamilton Lane is the manager.
The In-State Program has now committed $2.1 billion to 56 funds, the news release said.
“The In-State Program has helped hundreds of New York businesses add and retain thousands of jobs and grow while achieving solid returns for the retirement system members and their beneficiaries that rely on the pension fund for their retirement security,” Mr. DiNapoli said in the news release.
Read more @Pionline
342 views
