LP Scorecard: NYS pension collects $7 bln+ in distributions in recent 12-month period

The New York State Common Retirement Fund realized $7.4 billion in distributions during the year ending March 2015, with a big assist from Blackstone Group and Apollo Global Management.

Blackstone Capital Partners V was the top distributing fund in absolute terms for the NYSCRF during that stretch. The 2005-vintage returned $307.7 million on an investment of $679.2 million.

Apollo had three of vehicles in the top five, combining for $689.7 million in distributions. The leader was the 2007 Apollo Investment Fund VII, which produced $254.4 million during the one-year period on a $432.3 million investment.

Hamilton Lane’s Hudson River Fund II finished in third in terms of absolute distribution, generating $252.8 million for the Empire State’s pension.  NYSCRF has invested $913.7 million through the fund.

The leading fund by distribution percentage (distributions during the year as a percent of contributed capital) was C/R Energy Co-Investment II. The second joint venture between The Carlyle Group and Riverstone Holdings generated a 106.8 distribution percentage during the year; the fund has generated an extraordinary 10.5x investment multiple. Next up on the podium was the NYSCRF Pioneer Opportunities Fund A LP. The fund managed by StepStone Group had a distribution percentage of 101.7 percent. Third in line was Vista Equity Partners’ 2010 Vista Foundation Fund I, producing a 96.6 distribution percentage.

All told, NYSCRF’s private equity portfolio has about $35.5 billion committed across 277 active funds. Those active funds combined have drawn down $31.7 billion and returned $32.4 billion in realizations as of March 31, 2015.

Action Item: Download the LP Scorecard table as a spreadsheet here: NY State LP Scorecard Table