Institution: New York State Common Retirement Fund
Headquarters: Albany, United States
AUM: $225.90bn
Allocation to alternatives: 21.50%
Bitesize: $100-200m
New York State Common Retirement Fund has confirmed a €318 million ($347 million) commitment to Ares European Property Enhancement Partners III, according to the pension’s March 2020 investment disclosure report.
The $225.90 billion US public pension has a 9.0 percent target allocation to real estate that currently stands at 8.60 percent.
As illustrated below, NYSCRF’s six most recent real estate commitments have included three opportunistic funds, alongside one fund apiece with value-add and debt strategies. NYSCRF has also recently committed to a real estate separate account managed by GCM Grosvenor.
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