Investor watch: New York State Common tops 2023 debt investors

New York State Common allocated $250m to a KSL Capital Partners offering, while New York State Teachers made a pair of $150m allocations to separate accounts managed by Artemis Real Estate Partners and Raith Capital Partners.

CPP Investments, the New York State Common Retirement Fund and the New York State Teachers’ Retirement System were among the most active allocators to commercial real estate debt strategies in 2023, according to data from Real Estate Capital USA.
CPP Investments made a $585 million commitment to Harbor Group International’s HGI Multifamily Credit Fund, while New York State Common allocated $250 million to a KSL Capital Partners offering.

Meanwhile, New York State Teachers made a pair of $150 million allocations to separate accounts managed by managed by Artemis Real Estate Partners and Raith Capital Partners.
The HGI Multifamily Credit Fund was one of the five largest debt funds closed in 2023, with the multifamily-focused fund in a group that included offerings from MSD Capital Partners, PIMCO and Mesa West Capital.