Investors - MAY 2, 2018

N.Y. State commits $150m to open-ended fund

by Jody Barhanovich

The $201.2 billion New York State Common Retirement Fund has committed $150 million to Mesa West Core Lending Fund, according to a monthly transaction report on the website of Thomas DiNapoli, the state comptroller and sole trustee for the pension fund.

Mesa West Core Lending Fund, managed by Mesa West Capital, is a perpetual life open-ended commingled real estate debt fund focused on originating floating-rate first-mortgage loans on stabilized commercial real estate assets located in major markets in the United States. Mesa West Capital is a new relationship for New York State Common Retirement Fund.

The Mesa West fund has also received numerous equity commitments from other pension fund investors, including $50 million from the $8 billion San Diego City Employees’ Retirement System and $75 million from the $14.3 billion School Employees Retirement System of Ohio.

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