New York State Common Retirement Fund (NYSCRF) has approved $917m (€773m) in new commitments to the infrastructure portfolio within its real assets asset class.
The $272.8bn pension fund said it has made a €250m commitment each to the DIF Infrastructure VIII and the DIF Value-Add IV funds managed by CVC DIF.
The DIF Infrastructure VIII fund, which seeks to raise €6bn, expects to achieve net internal rate of returns (IRRs) of at least 10%.
The core fund will target investments in digital, energy transition and sustainable transportation assets across Europe and North America.
The DIF Value-Add IV fund, which has a €2bn fundraising target, will invest in non-core assets to achieve a minimum net IRR of 13%. The fund intends to target investments across the digital, energy transition, sustainable transportation and healthcare sectors.
NYSCRF also approved to place up $243.5m directly into the Stonepeak Global Renewables Fund II and $80m into the fund’s co-investment vehicle.
Fund II aims to raise $5bn to invest globally across Europe, North America and Asia, targeting the solar, natural gas and onshore and offshore wind sectors.
Stonepeak did not respond to a request for comment.
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