Investing in New York’s Emerging Businesses
In 2000, the Fund initiated the New York State Private Equity Investment Program. The Program is designed to provide investment returns consistent with the risk of private equity investing while also expanding the availability of capital for New York State businesses.
At March 31, 2012, the Fund’s private equity portfolio included investments in almost 200 New York businesses with a value of $1.2 billion. This figure reflects only the Fund’s share of these investments; the total value of New York companies held by the Fund’s partnerships was more than $22 billion as of September 30, 2011 (the most recent data available). A sample of the New York State companies in the private equity portfolio include: Flat World Knowledge in Ossining, NAMIC/VA in Glens Falls, SmartPill in Buffalo, Zeropoint in Potsdam, PACS Industries in Bethpage, Bausch & Lomb in Rochester, Movable Ink in New York City, WhoSay in Albany, Advion BioSciences in Ithaca, and Climax Manufacturing in Lowville.
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