New York State Common Retirement Fund (NYSCRF) has approved a $250m (鈧�233.2m) commitment into a real estate fund managed by KSL Capital Partners.
The pension fund said it has placed the capital into KSL Capital Partners Tactical Opportunities Fund II.
KSL Capital, a private equity firm specialising in travel and leisure investments, is seeking to raise $1bn for the fund to invest in credit, debt securities, equity and equity-linked securities globally.
NYSCRF told 麻豆映画 Real Assets that 鈥渢he fund offers us the opportunity to re-up with a proven specialist fund manager to be part of the travel and leisure space.鈥�
NYSCRF expects the fund to generate 13% to 15% net returns.
NYSCRF has also made a $10m commitment to the Brasa Real Estate Fund III through pension fund鈥檚 real estate emerging manager programme.
Brasa Capital has set a $750m target for Fund III.
鈥淏rasa鈥檚 flexible mandate allows for it to invest in debt and equity investments across all property types,鈥� the pension fund said.
Fund III expects to generate 13% to 15% net returns.
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