The New York State Common Retirement Fund (NYSCRF) has disclosed making $370m (€319.7m) worth of real estate and infrastructure fund commitments.
The $279.7bn pension fund said it approved a $200m (€183.8m) commitment to Artemis Real Estate Healthcare Fund II, invested $150m into Hull Street Energy Partners II and added $20m to its emerging-manager programme via NW1UK Industrial LP.
The Artemis fund is planning to raise $1bn to invest in US medical office and senior housing assets that can produce enhanced/value-add type returns.
NYSCRF told IPE Real Assets: “Demographic tailwinds as a well as near-term disruption and volatility caused by the COVID-19 pandemic will result in attractive opportunities to aggregate a diversified healthcare real estate portfolio.”
Last month, Hull Street Energy raised $1.13bn as it closed the North American power generation infrastructure fund.
NYSCRF said its commitment to the Hull Street Energy fund, which represents a new relationship for the pension fund, was made in February.
“The fund adds middle-market exposure to the real assets portfolio by investing in power generation assets, primarily hydro-electric assets. The manager is highly experienced in and operating power generation assets,” NYSCRF said.
The NW1UK Industrial fund, managed by NW1 Partners, will invest in industrial outdoor storage assets in the UK.
“The industrial outdoor storage benefits from the same macro trends/tailwinds as more traditional industrial logistics assets while requiring low upfront capex and minimal maintenance expenditures,” the pension fund said.
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