Institution: New York State Common Retirement Fund
Headquarters: Albany, US
AUM: $247.7 billion
Allocation to alternatives: 22.6%
New York State Common Retirement Fund has confirmed $330 million-worth of real estate commitments to three vehicles, according to the pension’s February 2021 monthly transaction report.
The commitments comprised $300 million to Blackstone Property Partners Life Sciences (open-ended), as well as $15 million each to Mandrake Capital Real Estate Fund and Brasa Credit II. Mandrake Capital Partners and Brasa Capital have both received allocations from NYSCRF’s emerging manager program.
The $247.7 billion US pension fund has a 10 percent real estate target allocation which currently stands at 8.1 percent.
As illustrated below, NYSCRF’s recent real estate commitments have predominantly targeted North American value-add and opportunistic vehicles.
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