Key Takeaways
- • New York Common Retirement Fund has committed $2bn to co-investments, according to the primary source article.
- • The fund committed $200m to Vista, a private equity manager.
- • The fund entered into its second co-investment vehicle with asset manager Neuberger Berman.
Summary
New York Common committed $2bn to co-investments and $200m to Vista, according to a PEI Private Equity report by Justin Mitchell. The commitments were disclosed in a report published 20 March 2020, and the source material does not provide further detail on the terms of the allocations.
The fund entered into its second co-investment vehicle with asset manager Neuberger Berman. Co-investment programs allow large institutional limited partners to invest alongside general partners in specific deals, typically with reduced or no fee load, and have become a growing area of focus for pension plans seeking to lower costs in private markets.
The $200m commitment to Vista extends the fund's relationship with the software-focused private equity firm. The source article does not specify the fund size or strategy of the Vista commitment beyond the headline figure.
Note that the source material is limited to the headline figures and the Neuberger Berman vehicle, and does not include additional supplemental detail on the deal terms.
The fund entered into its second co-investment vehicle with asset manager Neuberger Berman. Co-investment programs allow large institutional limited partners to invest alongside general partners in specific deals, typically with reduced or no fee load, and have become a growing area of focus for pension plans seeking to lower costs in private markets.
The $200m commitment to Vista extends the fund's relationship with the software-focused private equity firm. The source article does not specify the fund size or strategy of the Vista commitment beyond the headline figure.
Note that the source material is limited to the headline figures and the Neuberger Berman vehicle, and does not include additional supplemental detail on the deal terms.
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