NYSCRF approves $750m commitment

The $279.7bn public pension has announced a $750m commitment to Brookfield Asset Management's flagship net-zero vehicle.

Institution: New York State Common Retirement Fund
Headquarters: Albany, US
AUM: $279.7 billion
Allocation to alternatives: 26%

New York State Common Retirement Fund has approved a $750 million commitment to the Brookfield Global Transition Fund, according to materials from its December 2021 monthly transaction report.

Brookfield Asset Management launched the $15 billion fund in February 2021, announcing an initial $7 billion first close for the net-zero vehicle in July 2021. The Fund will build on Brookfield’s leadership in renewable power and deep operating capabilities to scale clean energy and invest capital to catalyze the transformation of carbon-intensive businesses to achieve Paris-alignment.

NYSCRF allocates 3 percent of its investment portfolio to infrastructure investment, comprising $8.39 billion in capital.

As illustrated below, the pension’s recent private infrastructure commitments have focused on vehicles with a global appetite that seek to invest into the energy and renewables sectors.

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