NYSTRS confirms $100m commitment

The US public pension has backed a North America-focused direct lending vehicle.

Institution: New York State Teachers’ Retirement System
Headquarters: Albany, United States
AUM: $120.48bn
Allocation to alternatives: 24.90%
Bitesize: $100-200m

New York State Teachers’ Retirement System approved a $100 million commitment to H.I.G. WhiteHorse Principal Lending Fund in Q4 2019, according to the pension’s January 2020 Board meeting materials. The vehicle held a final close in December 2019 at $1.1 billion in equity capital.

The $120.48 billion US public pension has a 1.0 percent target allocation to private debt that currently stands at 0.5 percent.

NYSTRS has made seven commitments to private debt funds with a 2018 or 2019 vintage, which combined constitute $835 million.

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