NYS in-state equity investment program
The New York
State Common Retirement Fund (CRF) created
a private equity investment program
targeting investment in
EligibilityTo ensure that investments meet fiduciary standards, the general partner funds are vetted and selected using minimum standards. The investment process for its core private equity portfolio requires both CRF staff and its private equity consultants to review investment opportunities.
The Fund employs a broadly diversified strategy for its portfolio to reduce risk. Investments are made utilizing a variety of strategies and managers from funds of different vintage years. Private equity comprises the bulk of the CRF's Alternative Investment portfolio. Private equity generally invests in partnerships that invest in companies not publicly traded. Strategies include:
- Venture capital - investing in new companies and technologies.
- Corporate finance - leveraged buyouts and financing for established companies seeking capital for expansion.
- Special situations funds - investing in specific industries or following unique strategies - such as mezzanine, distressed debt or the secondary market.
NYS Office of the Comptroller