Investors - APRIL 5, 2016

New York pension fund allocates $1.1b in January and February

by Zoë Wolff

The $184.5 billion New York State Common Retirement Fund has committed $1.1 billion to real estate and infrastructure, according to recently released transaction reports.

In January, the pension fund committed $400 million to Brookfield Strategic Real Estate Partners II and $100 million in co-investments.  The global opportunistic fund, managed by Brookfield Asset Management, focuses on real estate primarily in North America, Europe, Brazil and Australia.

In February, the pension fund committed $250 million to North Haven Infrastructure Partners II. The value-added infrastructure fund managed by Morgan Stanley focuses on energy, utility and transportation assets. The pension fund additionally committed $350 million to JP Morgan Strategic Property Fund, which invests in office, retail, multifamily and industrial assets in the United States.

The New York State Common Retirement Fund has a 6.5 percent target allocation to real estate.


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