NYSTRS, the $137.2bn retirement fund for New York public school teachers and administrators has invested some $400m in the energy transition space.
NYSTRS, which is the 10th largest retirement fund in the US has committed $100m to to EIV Capital Fund, a small- to medium buyout fund last year. The strategy focusses primarily on control-oriented buyouts of midstream energy, energy transition, and alternative energy and decarbonization companies, NYSTRS revealed in its annual Stewardship Report.
In addition, the New-York-based pension fund has also committed $300 million to OIC Credit Opportunities Fund IV. The latter is a, a direct lending fund focused on loans to within the infrastructure value chain.
While the fund itself is not climate themed, NYSTRS said that roughly two thirds of the final portfolio will be committed to investments that supports the energy transition. OIC’s website lists among others photovoltaic manufacturer Suniva and battery manufacturer Zinfive among its holdings.
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Prior to these new commitments made in 2023, NYSTRS had already made significant investments in the energy transition. Among others, it has invested in a company that produces exhaust and emissions systems for commercial vehicles, sustainable plating suppliers, carbon capture and storage, EV charging infrastructure and plasma-generated electricity. Private equity holdings account for some 11.4% of its overall portfolio as of June 2023.
