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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

November 7, 2013, Contact: Press Office (518) 474-4015

DiNapoli Announces $500 Million Investment in Opportunistic Portfolio Asset Class

The $160.7 billion New York State Common Retirement Fund (Fund) has made the first investment in its opportunistic asset class with a $500 million separate account commitment to Blackstone Tactical Opportunities Fund, New York State Comptroller Thomas P. DiNapoli announced today.

“The Common Retirement Fund is committed to investing where we see opportunities to achieve above average returns for our retirees and beneficiaries,” DiNapoli said. “With this $500 million commitment we are moving forward with plans to invest significantly in this space. The opportunistic portfolio will allow the Fund to be flexible in finding and capitalizing on solid risk-adjusted investment opportunities.”

“The financial crisis of 2009 was a catalyst for the Fund to find ways to invest in spaces that did not traditionally fit in our asset mix,” said Vicki Fuller, chief investment officer of the Fund. “This asset class will allow the Fund to be dynamic and invest in cross-asset transactions while giving us the flexibility to go where we see the opportunities. We will use our capital strategically so that if the world changes, this portfolio will change.”

The Fund has established a target allocation for opportunistic investments of up to four percent of the Fund’s invested assets. To contact the Common Retirement Fund for investment opportunities, please contact: NYSCRFInvestmentproposals@osc.state.ny.us.


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