The New York State and Local Employees’ Retirement System (NYSLRS) provides retirement benefits to employees of New York state government and local government entities. NYSLRS is one of two systems within the New York State Common Retirement Fund, which is managed by the New York State Comptroller and holds approximately $268 billion in total assets.
Investment Strategy
NYSLRS assets are invested through the Common Retirement Fund, which maintains a globally diversified portfolio across public equities, fixed income, private equity, real estate, infrastructure, private credit, and other alternatives. The Comptroller’s investment team manages the portfolio with a long-term perspective and sophisticated approach to portfolio construction.
The alternatives program is one of the largest in the world. Private equity investments span buyout, growth equity, venture capital, distressed, and secondaries strategies globally. Real estate includes both direct investments and fund commitments. Infrastructure targets essential-service assets. Private credit provides income and capital protection.
The Common Fund has been a leader in responsible investing and ESG integration, incorporating these factors into manager selection and portfolio management.
How to Approach
GPs should contact the NYS Comptroller’s investment team in Albany. The Common Fund is one of the most significant LPs in the global private markets ecosystem and can make very large commitments. The team evaluates managers on performance, strategy, team quality, ESG practices, and diversity initiatives. Competition for Common Fund capital is intense, so GPs should present a truly differentiated strategy.
Frequently Asked Questions
How are NYSLRS assets invested?
NYSLRS assets are invested through the New York State Common Retirement Fund, which is managed by the New York State Comptroller. The Common Fund manages approximately $268 billion in total assets, with roughly 18% allocated to alternatives.
What is the New York State Common Retirement Fund?
The Common Retirement Fund is the investment vehicle for NYSLRS and the Police and Fire Retirement System. Managed by the NYS Comptroller, it is the third-largest public pension fund in the United States and one of the most significant institutional investors globally.
How can GPs approach the NY Common Fund?
GPs should engage with the NYS Comptroller's investment team in Albany. The Common Fund has a large internal alternatives team and is one of the most sought-after LPs in the world. The team evaluates managers based on track record, strategy, ESG practices, and terms.
