The $226 billion New York State Common Retirement Fund retained its alternative investing spree last month with two new allocations.
Within the credit portfolio, officials selected Whitehorse Liquidity Partners (Empire) LP for a $450 million commitment. The pension system will invest alongside and through Whitehorse vehicles, using preferred equity securities in private equity portfolios as an alternative to traditional secondaries.
Toronto-based Whitehorse was founded in 2015 to provide customized and flexible liquidity solutions for private equity investors. Since then, the firm has closed or committed to 64 transactions with a value of roughly $5 . . .
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