By James Ladue from Emerging Manager Focus
The New York State Common Retirement Fund (CRF) made 10 investments on behalf of the pension totaling more than $446 million in value and closed four transactions in its private equity portfolio totaling $160 million throughout December 2009, according to Hedge Fund.net’s Marc Raybin. For its private equity portfolio, the pension made a $25 million investment in a fund managed by Bunker Hill Capital.
The CRF also made a $30 million allocation into a fund managed by Relativity Capital as part of the CRF’s emerging manager program and it is a new relationship for the plan. SAIF Partners took in a $100 million commitment by the CRF on Dec. 18. The pension has worked with SAIF previously. The last private equity investment made by the CRF in December took place on the 18th, when the plan committed $5 million to a fund managed by Clearlake Capital Group, in addition to the $15 million promised by the CRF as part of its emerging manager program.
The CRF also invested $125 million to its hedge fund strategy to an equity long-short fund managed by Pennant Capital Management. This investment closed on Dec. 1. Other investments include a $100 million in a fund managed by Invesco on Dec. 10 and $50 million committed to a fund managed by Oaktree on Dec. 18 as part of the CRF’s public-private investment program.
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