Key Takeaways
- • The New York State Common Retirement Fund's Emerging Manager Program invests with emerging managers directly or through managers of managers and program partners, in separately managed accounts or commingled funds.
- • The program has seventeen emerging managers in the current CRF portfolio that have graduated to direct investment by the Fund.
- • The Fund manages assets on behalf of more than one million New York State and local government employees, retirees and beneficiaries.
- • The 20th Annual Emerging Manager & MWBE Conference is scheduled for Friday, February 12, 2027, in Albany, New York, with registration opening in December.
Summary
The Office of the New York State Comptroller has published information on the Emerging Manager Program of the New York State Common Retirement Fund (the Fund), which allocates capital to emerging investment managers. Under the program, the Fund invests with emerging managers directly, or with the assistance of managers of managers or program partners, through separately managed accounts or commingled funds. Program partners support the timely deployment of capital, conduct due diligence and recommend managers for participation.
Each year, the Fund seeks to graduate emerging managers to direct investments by the Fund. According to the program page, seventeen managers currently in the CRF portfolio have graduated from the Emerging Manager Program. The program has also identified common attributes of successful emerging managers based on a survey of the emerging manager community, and has compiled an Emerging Manager Definition and Life Cycle to support consistent screening, monitoring and progression of candidates.
Allocation parameters and partner contact information are organized by asset class, including Public Equities, Private Equity, Fixed Income, Real Assets, Real Estate, and Credit & Opportunistic/Alternative Risk Strategies (O/ARS). Individual inquiries are directed to the Emerging Manager Team.
The program is framed around three stated goals: strengthening the Fund's value through prudent selection and opportunistic strategies on behalf of more than one million beneficiaries; diversifying the portfolio by accessing fresh talent and investment opportunities from new and small firms; and expanding opportunities for minority- and women-owned businesses. The Fund states that promoting these firms brings new ideas, perspectives and personnel.
The Fund also announced its 20th Annual Emerging Manager & MWBE Conference for Friday, February 12, 2027, in Albany, New York, with registration scheduled to open in December.
Each year, the Fund seeks to graduate emerging managers to direct investments by the Fund. According to the program page, seventeen managers currently in the CRF portfolio have graduated from the Emerging Manager Program. The program has also identified common attributes of successful emerging managers based on a survey of the emerging manager community, and has compiled an Emerging Manager Definition and Life Cycle to support consistent screening, monitoring and progression of candidates.
Allocation parameters and partner contact information are organized by asset class, including Public Equities, Private Equity, Fixed Income, Real Assets, Real Estate, and Credit & Opportunistic/Alternative Risk Strategies (O/ARS). Individual inquiries are directed to the Emerging Manager Team.
The program is framed around three stated goals: strengthening the Fund's value through prudent selection and opportunistic strategies on behalf of more than one million beneficiaries; diversifying the portfolio by accessing fresh talent and investment opportunities from new and small firms; and expanding opportunities for minority- and women-owned businesses. The Fund states that promoting these firms brings new ideas, perspectives and personnel.
The Fund also announced its 20th Annual Emerging Manager & MWBE Conference for Friday, February 12, 2027, in Albany, New York, with registration scheduled to open in December.
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