Institution: New York State Common Retirement Fund
Headquarters: Albany, US
AUM: $210.50 billion
Allocation to alternatives: 21.50%
New York State Common Retirement Fund has confirmed $600 million-worth of real estate commitments to three vehicles, according to the pension’s June meeting minutes.
The commitments comprise $100 million to Ares European Property Enhancement Partners III Co-Investment, £200 million ($263 million) to PGIM Real Estate Capital VII and €200 million ($237 million) to Exeter Europe Industrial Core Fund.
The $210.50 billion US public pension has a 9.0 percent target allocation to real estate that currently stands at 8.60 percent.
As illustrated below, the pension’s recent commitments are to funds focused on the retail, office and residential sectors within North America and Europe.
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