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NYSCRF backs new Fairfield Residential fund with $600m commitment
Investors - JULY 10, 2020

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NYSCRF backs new Fairfield Residential fund with $600m commitment

by Kali Persall

The $210.5 billion New York State Common Retirement Fund (NYSCRF) committed $600 million to the Fairfield Create Core Multifamily Fund in May, according to a recent transaction report.

Fairfield Create Core Multifamily Fund is an opportunistic fund managed by California-based Fairfield Residential. The fund will target development to long-term hold of apartment complexes.

The fund is structured with NYSCRF as cornerstone investor and builds on an existing relationship with Farfield Residential. The investment closed on May 12.

NYSCRF invests with real estate opportunity funds, affordable housing, mortgages and joint ventures with a property-specific mandate, according to the pension fund. Significant activity includes new commitments to general partners, investments made through joint ventures and affordable mortgages.

As of April 1, NYS

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