NY pension fund seeking investments in state
Posted at: 09/18/2013 10:27 AM
ALBANY, N.Y. (AP) - The New York Comptroller's Office says it has set aside nearly $400 million for new investments in businesses within the state from the nearly $159 billion Common Retirement Fund for public workers.
In a report on the fund's In-State Private Equity Program, Comptroller Thomas DiNapoli says $684 million of more than $1 billion available has been invested in 252 New York companies.
The report also shows $6.7 billion altogether has been invested by the fund coupled with the private equity firms that are its partners in those ventures, including $2.4 billion in upstate companies.
DiNapoli says that for every $1 from investments now completed the fund has made $1.60.
The Legislature created the program in 1999.
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