New York City has released its financial report for fiscal year 2019, disclosing a year-over-year increase in real estate commitments.
According to a report by the NYC Comptroller’s Office, as of June 30, the state’s real estate program had approximately $14.8 billion in commitments to 87 current investments and 46 managers. In 2018, commitments totaled $12.7 billion.
This fiscal year, New York City’s pension funds made $2 billion in new commitments to seven funds, compared with $1.2 billion to four funds in 2018. Six of the seven funds were follow-on commitments to existing investment partners.
New York City’s primary pension funds are New York City Employees’ Retirement System, Teachers’ Retirement System of The City of New York, New York City Police Pension Fund, New York City Fire Pension Fund and the New York City Board of Education Retirement System. The pension
