NYSCRF approves $650m in commitments

The Albany-based pension fund has backed KKR and Northleaf Capital Partner's unlisted infrastructure funds.

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Institution: New York State Common Retirement Fund
Headquarters: Albany, US
AUM: $268.3 billion
Allocation to alternatives: 26%

New York State Common Retirement Fund has approved $650 million-worth of commitments across two infrastructure vehicles, according to its June 2021 monthly transaction report.

The commitments comprise $500 million to KKR‘s fourth Global Infrastructure fund and $150 million to Northleaf Infrastructure Capital Partners III.

NICP III is a closed-ended fund seeking $1.5 billion in capital commitments for investment in mid-market infrastructure assets and companies domiciled in OECD countries. The commitment to Northleaf Capital Partners is a new fund manager relationship for the US public pension.

NYSCRF has a target allocation of 3.0 percent for infrastructure which at present stands at that figure. Earlier this year, Infrastructure Investor reported the actual allocation for infrastructure was at 1.6 percent. Following the recent commitments, the actual allocation has equalled the policy target for the fiscal year.

As illustrated below, the $263.8 billion pension’s recent fund commitments have predominantly targeted global unlisted equity strategies across various sectors.

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