New York State Common Retirement Fund (NYSCRF) has approved $650m (€534.1m) of new commitments into three infrastructure funds.
The $194.3bn pension fund said it is committing a $100m to Excelsior Renewable Energy Investment Fund I, $350m to ISQ Global Instructions Fund III and $200m to Grain Communications Opportunity Fund III.
Excelsior Energy Capital’s fund, which raised $504m at close last week, will be targetting solar and wind power generation assets in North America with a focus on the US. The global ISQ Fund III fund will be investing mostly in middle-market power generation, renewables and utilities, midstream energy, communications, water and transportation. The Grain Fund III will target US communications infrastructure.
NYSCRF has also approved three new commitments totalling $45m to its real estate emerging manager program advised by GCM Grosvenor.
The first is a $20m investment into Liftbridge Commercial Fund 2, a fund which invests in real estate-backed mortgages and loans.
The other two commitments – which represent new relationships for the pension fund – comprises a $15m commitment to the NW1 Partners managed GCM Multifamily Partners 2020 fund, to invest in a portfolio of multifamily assets in New York City, and a $10m investment to Grandview I-C, a Grandview Property Partners managed fund which targets US industrial and multifamily real estate.
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