LPs

New York Common commits to IK Investment Partners’ Fund IX

The $210.5 bln pension is also an LP in IK's previous fund.

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New York State Common Retirement Fund committed €200 million ($223 million) to the ninth fund from IK Investment Partners, according to a document posted on state comptroller Thomas DiNapoli’s website.

According to a Form D, IK is targeting about €2.8 billion ($3.1 billion) for the fund.

DiNapoli’s office said the fund will target investments in Europe, specifically Belgium, the Netherlands, Luxembourg, Germany, Austria, Switzerland and France, with opportunistic investments elsewhere. The deal closed October 11.

New York Common also committed $196 million to IK’s last fund, IK VIII.

Illinois Municipal Retirement Fund and Minnesota State Board of Investment have also committed to IK IX, as Buyouts has reported.

New York Common is the third-largest public pension in the United States, according to its website. It was valued at $210.5 billion as of March 31, 2019.

Action Item: read the state comptroller’s full October 2019 commitment report here.