NY pension fund seeking investments in state

ALBANY, N.Y. (AP) – The New York Comptroller’s Office says it has set aside nearly $400 million for new investments in businesses within the state from the nearly $159 billion Common Retirement Fund for public workers.

In a report on the fund’s In-State Private Equity Program, Comptroller Thomas DiNapoli says $684 million of more than $1 billion available has been invested in 252 New York companies.

The report also shows $6.7 billion altogether has been invested by the fund coupled with the private equity firms that are its partners in those ventures, including $2.4 billion in upstate companies.

DiNapoli says that for every $1 from investments now completed the fund has made $1.60.

The Legislature created the program in 1999.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Article source: http://www.myfoxny.com/story/23461707/ny-pension-fund-seeking-investments-in-state