New York State Common Retirement Fund approves $300m commitment

The US public pension has opened a separately managed account with GCM Grosvenor.

Institution: New York State Common Retirement Fund
Headquarters: Albany, United States
AUM: $210.20bn
Allocation to alternatives: 28.70%
Bitesize: $100-200m

New York State Common Retirement Fund has agreed to commit $300 million to a Empire GCM Real Estate Anchor Fund – a separate account managed by GCM Grosvenor, according to the pension’s latest monthly report.

The $210.20 billion US public pension has an 8.0 percent target allocation to real estate that currently stands at 7.30 percent.

As illustrated below, New York State Common Retirement Fund has made eight commitments to real estate funds with a 2018 or 2019 vintage, which combined constitute $1.98 billion.

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