New York State Common Retirement Fund (NYSCRF) has made $400m (€352.3m) worth of commitments via its sustainable investments and climate solutions programme.
The pension fund said it has made the commitments by placing $250m into the Oaktree Power Opportunities Fund VII fund and investing $150m in the the Vision Ridge Partners Sustainable Asset Fund IV fund.
Oaktree Capital Management is seeking to raise $2.5bn for its fund focused on investing in North American infrastructure within the electric power, solar and water sectors.
The Vision Ridge Partners fund focuses on energy, transportation and agriculture sectors, mostly in North America.
NYSCRF’s sustainable investments and climate solutions program aims to reach a long-term investment target of $40bn. So far, the strategy has allocated $26.5bn in capital.
The strategy spans a range of asset classes, including real estate and real assets, as well as public equity, fixed income, private equity and credit investments.
Thomas P DiNapoli, state comptroller and trustee for New York Common, said: “Climate change poses a real threat to our investments, but the actions announced today will help position the fund to address those risks and seize on opportunities generated as the world transitions to a low-carbon economy.”
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