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  1. Institutional investment
14 January, 2022

NYSCRF injects up to $210.5m in cross-border investments

The New York State Common Retirement Fund is set to invest in Asian private equity, Spanish logistics and Finnish real estate.

By Sofia Karadima

The New York State Common Retirement Fund (NYSCRF), a $267.8bn pension scheme, has approved commitments of up to $210.5m in cross-border investments, according to a document seen by Investment Monitor

The cross-border investments consist of private equity in Asia, logistics assets in Spain and real estate in Finland.  

The document reveals that the US-based institutional investor has approved commitments of $190m to New York Co-Investment Pool Asia Investors IV, up to $15m to NW1 Spanish Logistics, and €4.875m ($5.5m) to Sirius Fund IV SCSp. 

The New York Co-Investment Pool Asia Investors IV (NY CI AI IV) is a co-investment fund managed by the Hong Kong-headquarted private equity fund manager Asia Alternatives. NY CI AI IV will invest alongside Asia Alternatives’ main fund vehicles, Asia Alternatives Capital VI and Asia Alternatives Capital VII. This move comes in order to “capture additional exposure in the highest conviction investments when capacity is available”, according to the document. 

The NYSCRF will also be a seed investor in the NW1 Spanish Logistics LP, by committing up to $15m through the Empire GCM RE Anchor Fund. The document states that the NW1 Spanish Logistics LP is an anchor seed opportunity, which focuses on acquiring newly developed and redeveloped logistics assets in Spain. 

The pension fund will also invest in Sirius Fund IV SCSp, through the Empire GCM RE Anchor Fund. More specifically, the fund will invest in newly built, transit-oriented apartments and residential ground leases in Helsinki, Tampere and Turku, according to the document. This is the first time that the pension fund has collaborated with Sirius Capital Partners, a real estate manager in Finland. 

The NYSCRF had allocated 52.14% of its portfolio to publicly traded equities, 21.84% to cash, bonds and mortgages, 12.23% to private equity, 8.44% to real estate and real assets, and 5.35% to credit, absolute return strategies and opportunistic alternatives, as of September 2021.  

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