New York State Common Retirement Fund (NYSCRF) has committed $200m (€171.9m) to a dedicated fund-of-one vehicle, created to co-invest with a cold storage fund managed by Westport Capital Partners.
The pension fund said the capital placed into the WCP New Cold Fund N will be used to co-invest alongside WCP NewCold III, which will invest in existing and new cold storage warehouses in the US, Europe and APAC.
The co-investment fund created by NYSCRF grants the pension fund full discretion over its investment decisions, with expected returns in line with opportunistic strategies.
The latest commitment is the second investment by the $275bn pension fund with Westport Capital Partners within 14 months. The first was a $400m commitment to the NewCold III fund in September 2024.
NYSCRF told IPE Real Assets that “both funds provide the CRF exposure to an alternative property-type sector with strong total and current return characteristics.”
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