NY State Commits $275M to PE Funds –

NEW YORK – The $115 billion New York State Common Retirement Fund has recently made private equity commitments totaling $275 million.

The fund made the following private equity commitments: $100 million to Fairview Ventures I, a captive venture capital fund-of-funds; $75 million to Vestar Capital Partners IV, a mid-market buyout fund; and $100 million to Blackstone Mezzanine Partners, a partnership organized to make investments in senior and subordinated debt securities, according to a written statement from state Comptroller H. Carl McCall.

The fund has made commitments to three previous Fairview efforts, $20 million to Fairview Capital, $31 million to Fairview Capital II and $50 million to NYCRF Investment Fund.

New York State was a limited partner in one previous Vestar vehicle, investing $30 million in Vestar Capital Partners III, and has invested a total of $400 million prior to this commitment in four Blackstone funds.