Key Takeaways
- • The $279.7 billion New York Common Retirement Fund committed just over $2 billion in February across its credit, private equity, real estate, absolute return, and real asset portfolios.
- • Credit was the largest allocation at $1.2 billion, including $800 million across the Ares SSG Capital Partners VI and Ares SSG Excelsior Co-Investment funds and $400 million to the Ellington Empire Fund.
- • The $300 million commitment to the Neuberger Berman Opportunistic Capital Solution Fund went to the opportunistic absolute return portfolio, and it targets special purpose acquisition company (SPAC) sponsorship.
- • Private equity commitments totaled roughly $215 million, led by $200 million to Clearlake Capital VII, L.P.
Summary
The New York Common Retirement Fund, valued at $279.7 billion, committed slightly more than $2 billion in February 2022 across its credit, private equity, real estate, absolute return, and real asset portfolios, according to Chief Investment Officer. The source article's detailed breakdown covers the credit, absolute return, and private equity allocations; it does not itemize the real estate or real asset commitments.
The largest single allocation was to credit, at $1.2 billion. That included $800 million split between the Ares SSG Capital Partners VI, L.P. and Ares SSG Excelsior Co-Investment, L.P. funds, both managed by Ares SSG Capital Management. These closed-end vehicles invest mainly in special situations and credit opportunities in the Asia-Pacific region. The remaining $400 million went to the Ellington Empire Fund LLC, managed by Ellington Management Group, which will invest in residential mortgage, commercial mortgage, and consumer loan assets, including loans, pools, and securities.
Within the opportunistic absolute return strategies portfolio, the fund invested $300 million in the Neuberger Berman Opportunistic Capital Solution Fund, managed by Neuberger Berman Group. According to the article, the fund offers investors access to large allocations of quality growth companies and participation in general partner economics by co-sponsoring six to eight structurally differentiated special purpose acquisition companies.
The private equity portfolio received about $215 million in February. The largest commitment was $200 million to Clearlake Capital VII, L.P., managed by Clearlake Capital Group, which will target technology, industrials, and consumer investments, mainly in the US. The fund also committed $10 million to J-Star No. 5, L.P., focused on small and mid-sized Japanese buyouts across various sectors, and $5 million to NFX Capital Opportunity Fund I, which will invest in technology and life sciences companies in Israel and the US.
{
"categories": ["private-equity", "private-credit", "alternative-investment", "hedge-fund", "real-estate", "institutional", "public-funds"],
"content_type": "article",
"keywords": ["New York Common Retirement Fund", "private equity commitments", "Ares SSG Capital Partners VI", "Ellington Empire Fund", "Neuberger Berman Opportunistic Capital Solution Fund", "Clearlake Capital VII", "special purpose acquisition companies", "pension fund allocations"],
"mentioned_companies": ["Ares SSG Capital Management", "Ellington Management Group", "Neuberger Berman Group", "Clearlake Capital Group", "NFX Capital"],
"mentioned_people": [],
"has_cta": false,
"translated_title": null
}
The largest single allocation was to credit, at $1.2 billion. That included $800 million split between the Ares SSG Capital Partners VI, L.P. and Ares SSG Excelsior Co-Investment, L.P. funds, both managed by Ares SSG Capital Management. These closed-end vehicles invest mainly in special situations and credit opportunities in the Asia-Pacific region. The remaining $400 million went to the Ellington Empire Fund LLC, managed by Ellington Management Group, which will invest in residential mortgage, commercial mortgage, and consumer loan assets, including loans, pools, and securities.
Within the opportunistic absolute return strategies portfolio, the fund invested $300 million in the Neuberger Berman Opportunistic Capital Solution Fund, managed by Neuberger Berman Group. According to the article, the fund offers investors access to large allocations of quality growth companies and participation in general partner economics by co-sponsoring six to eight structurally differentiated special purpose acquisition companies.
The private equity portfolio received about $215 million in February. The largest commitment was $200 million to Clearlake Capital VII, L.P., managed by Clearlake Capital Group, which will target technology, industrials, and consumer investments, mainly in the US. The fund also committed $10 million to J-Star No. 5, L.P., focused on small and mid-sized Japanese buyouts across various sectors, and $5 million to NFX Capital Opportunity Fund I, which will invest in technology and life sciences companies in Israel and the US.
{
"categories": ["private-equity", "private-credit", "alternative-investment", "hedge-fund", "real-estate", "institutional", "public-funds"],
"content_type": "article",
"keywords": ["New York Common Retirement Fund", "private equity commitments", "Ares SSG Capital Partners VI", "Ellington Empire Fund", "Neuberger Berman Opportunistic Capital Solution Fund", "Clearlake Capital VII", "special purpose acquisition companies", "pension fund allocations"],
"mentioned_companies": ["Ares SSG Capital Management", "Ellington Management Group", "Neuberger Berman Group", "Clearlake Capital Group", "NFX Capital"],
"mentioned_people": [],
"has_cta": false,
"translated_title": null
}
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.