New York State Common Retirement Fund (NYSCRF) has committed a combined $60 million to two venture funds and $50 million to a growth equity fund.
NYSCRF committed $30 million to PVP Fund IV and $30 million to Primary Select Fund III, which are both managed by New York venture firm Primary Venture Partners. Both funds have a target of $275 million and began fundraising in July 2022. The names of other investors in those funds were unavailable.
NYSCRF also committed $50 million to Insight Partners Fund XI Follow-On Fund, a growth equity fund that is targeting $3 billion and began fundraising in March 2022. Other LPs in the Insight vehicle include Massachusetts Pension Reserves Investment Management Board ($20 million), Massachusetts Pension Reserves Investment Management Board ($20 million) and Texas Municipal Retirement System ($30 million).
The commitments to Insight and Primary were part of an overall commitment of $538.3 million to seven private equity vehicles.
NYSCRF committed $350 million to Apollo Excelsior PE Co-Invest, which is managed by Apollo Global Management; $48.3 million to KSL Capital Partners CV II 3, a buyout fund managed by KSL Capital Partners; and up to $30 million to two funds managed by GreenPoint Partners (GreenPoint Real Estate Private Equity I and GreenPoint TVP Partnership).
The $242.3 billion pension system, based in Albany, New York, has a 14.73 percent allocation to private equity.