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NY pension fund sets aside $650M for RE, infrastructure strategies

New York State Common Retirement Fund has set aside $650 million for new commitments in real estate and infrastructure strategies, IPE Real Assets reported.

According to the report, Heitman's HVP IV Sidecar I will receive $150 million and an Artemis Real Estate Partners LLC-managed fund will get $200 million, while $300 million has been earmarked for I Squared Capital's second global infrastructure fund.

The New York pension fund told the publication that its sidecar investments will be restricted to alternative property types with strong returns in which it has limited exposure, such as self-storage, student accommodation, seniors housing, medical office, and single-family homes for rent.

The Artemis Real Estate Partners Income and Growth Fund has a U.S.-focused core-plus strategy and invests in strategic joint ventures with a mix of emerging or diverse operating partners.

ISQ Global Infrastructure Fund II, which raised $7 billion at its final close, will focus on mid-market investment opportunities in the energy, utilities and transportation industries, primarily in North America and Europe, IPE Real Assets added.