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NYSCRF awards $100m to BIG Real Estate Fund II
Investors - JUNE 29, 2022

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NYSCRF awards $100m to BIG Real Estate Fund II

by Kali Persall

The New York State Common Retirement Fund (NYSCRF) has invested $100 million in BIG Real Estate Fund II (BIG Fund II), managed by Basis Investment Group, on behalf of its emerging manager program.

The emerging manager program was established to invest in newer, smaller and diverse investment management firms, according to a recent transaction report.

BIG Fund II is a high-yield debt strategy that will invest in conduit CMBS b-pieces, levered bridge loans, preferred equity and mezzanine debt. BIG Fund II will be a continuation of the middle-market strategy followed by BIG Fund I.

NYSCRF said it has an existing relationship with Basis Investment Group. The funding will come from cash.

The New York State Common Retirement Fund is one of the largest public pension funds in the United States. The pension fund ended the third quarter of state fiscal year 2021–202

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