NY
LP profile
New York State Common Retirement Fund
Pension fund · Founded 1983 · Albany, United States
154
VC firms backed
$298B
AUM
~$3.0B
Allocated to VC (est. 1%)
01 · Background
Who New York State Common Retirement Fund is.
- Historical Background
- The New York State Common Retirement Fund was established in 1921 to manage the pension assets for public employees in New York State. It is one of the largest public pension plans in the United States, holding the assets of the New York State and Local Retirement System (NYSLRS) in a single unified investment program. The fund is overseen by the New York State Comptroller, who acts as the sole trustee, a structure that centralizes investment and policy decision-making.
- Source of Capital
- The fund's capital is sourced from required contributions made by more than 3,000 state and local government employers, their employees, and from the returns on its investments. It holds these assets in trust on behalf of its more than one million members, who are current and former public sector employees.
- Allocation Strategy
- The fund invests across a wide range of asset classes, including domestic and international equities, global equity, private equity, real estate, and fixed income. It maintains a long-term, diversified investment strategy designed to achieve returns while managing risk for its pension obligations. As of March 2024, the fund's strategic asset allocation targets included 39% in publicly traded equities, 21% in cash, bonds, and mortgages, 17% in private equity, and 13% in real estate and real assets.
02 · Fund commitments
The funds New York State Common Retirement Fund backs.
New York State Common Retirement Fund is a limited partner in 154 funds. 34 of them place in the Power Law Investor Ranking; those lead, best-ranked first.
New Enterprise Associates
#8 Power Law
Khosla Ventures
#12 Power Law
Insight Partners
#23 Power Law
Battery Ventures
#54 Power Law
Matrix Partners
#58 Power Law
Menlo Ventures
#75 Power Law
IVP
#84 Power Law
RRE Ventures
#93 Power Law
Canaan
#103 Power Law
Meritech Capital
#107 Power Law
Threshold Ventures
#115 Power Law
FirstMark
#127 Power Law
SAIF Partners
#159 Power Law
5Y Capital
#170 Power Law
Ardian
Baring Vostok Capital Partners
Boyu Capital
Crescent Capital
EQT Group
Evergreen Venture Partners
Giza Venture Capital
Hony Capital
Intermediate Capital Group
Invesco
Jerusalem Venture Partners
LBO France
LivingBridge
Loyal Valley Capital
Meridiam
Morgan Stanley Infrastructure Partners
New Era Capital Partners
Northstar Group
OVP Venture Partners
Pitango Venture Capital
S Capital
SCALE Aviation
Star Lake Capital
Viola Credit
03 · Allocation
How New York State Common Retirement Fund’s fund book is spread.
The 154 funds New York State Common Retirement Fund backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters, across the 151 of 154 with a location on record.
- North America 12885%
- Rest of world 139%
- Europe 107%
United States 126 · Israel 6 · China 4 · United Kingdom 4
How established those managers are
Managers grouped by how many funds they have raised — across the 78 of 154 with a fund history on record.
Emerging funds · 30
Established funds · 48
14
1
12
2
4
3
7
4
12
5-6
11
7-9
8
10-14
10
15+
Funds raised by the manager
04 · Direct investments
The companies New York State Common Retirement Fund backs directly.
New York State Common Retirement Fund holds 8 companies directly, separate from the funds it commits to as a limited partner.
Schoolnet
$230M valuation
Auction Direct USA
Auterra
$8.4M valuation
OyaGen
$6.8M valuation
5LINX
$22M valuation
Würth MRO, Safety, & Metalworking
Peridrome Corporation
$4.4M valuation
OSC
05 · Portfolio market map
Inside New York State Common Retirement Fund’s portfolio.
The 8 highest-funded portfolio companies, of 8 tracked.
ScSchoolnet
$230M
AuAuction Direct USA
AuAuterra
$8.4M
OyOyaGen
$6.8M
5L5LINX
$22M
WüWürth MRO, Safety, & Metalworking
PePeridrome Corporation
$4.4M
OSOSC
06 · Other LPs
Other LPs.
Other pension funds in the Power Law LP ranking, closest to New York State Common Retirement Fund by combined power-law score — North America first, then the nearest worldwide.
🇺🇸
Bell Atlantic Master Trust
$8.0B AUM
55 VC funds backed
🇺🇸
MGB Erisa Master Trust
$3.8B AUM
46 VC funds backed
🇻🇮
UPHS Illiquid Assets Pool
16 VC funds backed
🇺🇸
LACERA
$73B AUM
131 VC funds backed
🇺🇸
Orange County Employees' Retirement System
$23B AUM
96 VC funds backed
🇺🇸
Washington State Investment Board
$190B AUM
99 VC funds backed
🇺🇸
New Mexico State Investment Council
$35B AUM
135 VC funds backed
🇺🇸
Pennsylvania State Employees' Retirement System
$42B AUM
122 VC funds backed