NYSCRF commits $300m to Asana Partners Select Fund

The New York State Common Retirement Fund (NYSCRF) has committed $300 million to Asana Partners Select Fund, a “fund-of-one” structure focused on core and core-plus retail and mixed-use properties in urban and near-urban walkable neighborhood locations in the United States. The fund is sponsored by Asana Partners.

NYSCRF has invested in a “fund-of-one” structure with Asana Partners before, having committed $300 million to Asana Partners Select Retail Fund in 2019.

As of March 31, of NYSCRF’s $248.5 billion of assets under management, 10.29 percent ($25.1 billion) was invested in real estate, slightly above NYSCRF’s 9 percent real estate asset allocation target.