New York State Common Retirement Fund approves $300m commitment

The US public pension has backed Morgan Stanleys' third series unlisted fund.

Institution: New York State Common Retirement Fund
Headquarters: Albany, United States
AUM: $210.20bn
Allocation to alternatives: 18.70%
Bitesize: $200-500m

New York State Common Retirement Fund has agreed to commit $300 million to North Haven Infrastructure Partners III, according to the pension’s September meeting minutes. The fund managed by Morgan Stanley will focus on the acquisition of private infrastructure assets with the potential for value creation through active management. Target transactions will be located primarily within developed countries and sector focus includes: renewables, transportation, and digital infrastructure.

The $210.20 billion US public pension has a 1.0 percent allocation to infrastructure.

As illustrated below, the pension has made four commitments to infrastructure funds with a 2018 or 2019 vintage, which combined constitute $1.56 billion.

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