Institution: New York State Common Retirement Fund
Headquarters: Albany, US
AUM: $248.5 billion
Allocation to real estate: 10.48%
The New York State Common Retirement Fund has recently announced a significant investment commitment of $260 million, as reported in its latest monthly update.
The public pension committed $250 million to KSL Capital Partners Tactical Opportunities Fund II and $10 million to Brasa Real Estate Fund III.
Brasa Real Estate Fund III, launched in 2023, is an opportunistic fund that focuses on North American real estate sectors including office, industrial, multi-family/residential and retail.
Brasa Capital’s third flagship fund is fundraising with a target of $850 million.
The overall value of New York State Common Retirement Fund is $248.5 billion, with its current allocation to real estate set at 10.48 percent. It’s noteworthy that the pension fund’s real estate investments are assessed at $26.04 billion.
As illustrated below, the pension fund’s primary emphasis lies on investments in multi-family/residential, hospitality and diverse investment vehicles that prioritize returns generated through opportunistic strategies, debt, value-add, and proptech.
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