NY State Common Closes Seven Deals Totaling Approximately $236.5 Million

(August 2, 2010) — According to a monthly transaction report from New York State Comptroller Thomas P. DiNapoli, the  $132.6 billion New York State Common Retirement Fund has closed seven transactions in June totaling approximately $236.5 million.

Among the transactions closed was the fund’s relationship with Goldman Sachs Asset Management, which ran a $600 million ACWI ex-U.S. equity account.

“The GS relationship was not renewed as the Fund is reducing its exposure to domestic and international public equities pursuant to the revised asset allocation Comptroller DiNapoli approved in November 2009,” fund spokesman Robert Whalen told ai5000.

The fund completed five transactions in its $10.5 million real estate portfolio, one transaction worth an estimated $26 million with Gilde Buyout Fund IV – an independent private equity group based in Europe, and one $200 million transaction in the absolute returns portfolio of the Rock Creek Empire Fund. “No placement agents were used in the transactions,” the release stated.

DiNapoli, the fund’s sole trustee, publishes monthly transaction reports that specify the nature, size, parties of fund investments, and specifically whether a third-party placement agent was used in obtaining investments, reflecting efforts by the pension to heighten its standard of transparency and openness in operations.