Welcome to the website for the In-State Private Equity Investment Program of the New York State Common Retirement Fund (CRF).
Through the In-State Program, the CRF seeks to establish long-term partnerships with investment managers who invest in companies in New York State and consistently deliver top-quartile returns. As of June 2012, the CRF has invested $615 million in 224 companies through this program. The CRF remains committed to investing in New York-based businesses and has capacity for additional investment.
In addition to providing the CRF with a maximum level of return consistent with policies on liquidity, diversification, and investment risk, the program aims to help generate jobs and private sector investment in New York. The program has proven to be an important contributor to the State's economy by making capital available to small businesses. In-State investments in buyout and growth equity frequently involve organizations with substantial employment and prospects for job growth. Since its inception, the program has helped create more than 3,000 jobs across New York and has achieved returns consistent with the investment objectives of the overall private equity portfolio.
The program's concept is a simple one: if you're prepared to make a commitment to New York and can state a compelling case for our investment, we'll make a commitment to you and your business.
The CRF encourages those who are interested in having a better understanding of the In-State Private Equity Investment Program to review the Financing for Business in New York State section of the Comprehensive Annual Financial Report. If you would like more information about the In-State Private Equity Program, please use the following email address:
NYSCRFInvestmentproposals@osc.state.ny.us
Sincerely,
Thomas P. DiNapoli
State Comptroller