NYSTRS approves $300m in commitments

The US public pension backed a pair of private debt vehicles in Q1 2021.

Institution: New York State Teachers’ Retirement System
Headquarters: Albany, US
AUM: $118.76 billion
Allocation to alternatives: 24.6%

New York State Teachers’ Retirement System confirmed $300 million-worth of commitments to private debt funds in Q1 2021, according to meeting materials from the pension’s April 2021 meeting.

The commitments comprised $200 million to H.I.G. Whitehorse Direct Lending 2020 Fund and $100 million to Comvest Credit Partners V.

NYSTRS has a 1 percent target allocation to private debt that currently stands at 0.6 percent.

As illustrated below, the $118.76 billion pension fund’s recent private debt commitments have predominantly targeted North American vehicles pursuing either senior or subordinated lending strategies.

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