The $215.4 billion New York State Common Retirement Fund (NY CRF) has made a first-time commitment to a fund managed by Raith Capital Partners.
The investment totals $15 million in the closed-end commingled vehicle Raith Real Estate Fund II. It was made through the Empire GCM RE Anchor Fund, advised by GCM Grosvenor, an emerging manager program partner within the real estate asset class. Raith’s fund will make investments in value-add and opportunistic real estate assets.
