New York State Common Retirement Fund commits $325m
The $201.3 billion New York State Common Retirement Fund made several commitments to real estate in November 2017.
It committed $200 million to Landmark Real Estate Partners VIII-A, a secondaries fund managed by Landmark Partners.
In addition, the pension fund committed $50 million each to two funds managed by Avanath Capital Management. It committed $50 million to Avanath Affordable Housing III and $50 million to Avanath III NY Co-Investment Fund. Avanath is a new relationship for the pension fund.
As part of its emerging manager program, the New York State Common Retirement Fund invested $25 million in BIG Real Estate Fund I, a closed-end commingled investment fund managed by Basis Investment Group, which focuses on originating, co-originating, or acquiring debt and structured equity investments located throughout the United States. This is a new relationship for the pension fund.