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New York State Common Retirement Fund (NYSCRF) has made several new fund commitments

by Bogusia Glowacz

  • 23 Nov 2010
  • PE

The USD 124.5 billion NYSCRF has renewed its relationship with Oaktree Capital Management by committing to invest USD 100 million in OCM Opportunities Fund VIII and USD 100 million in OCM Opportunities Fund VIIIB. Both vehicles will focus on pursuing distressed debt investments in fundamentally undervalued debt securities of distressed companies primarily in the US. OCM Opportunities Fund VIII already held a final close at USD 4.4 billion in August 2010, while OCM Opportunities Fund VIIIB continues to raise capital in order to reach its target of USD 2 billion.

Furthermore, NYSCRF has allocated USD 75 million to Generation Investment Management, another existing relationship of the public pension fund. NYSCRF also recently committed USD 15 million to High Peaks Seed Venture Fund, through which it plans to invest in early-stage and seed-stage opportunities within New York. The commitment marked NYCRF's first investment in a dedicated seed-stage fund.

NYSCRF is one of the largest investors in private equity in the world and has a target allocation of 10% of total assets. It invests in a variety of fund types and its private equity program primarily consists of US-based funds, but also includes funds managed by firms based in other regions.

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