NYSTRS commits $458m to six PE funds including South Korea’s MBK Partners

Visual from the company website.

The New York State Teachers’ Retirement System (NYSTRS) has committed a total investment of $458 million across six private equity funds, of which $100 million will be pumped into South Korea’s MBK Partners Fund IV.

Private equity firm MBK Partners had raised its fourth $4.1 billion fund in December last year, for which it has already received commitments from global investors including Singapore’s sovereign wealth fund GIC and Canada Pension Plan Investment Board.

NYSTRS has also committed about $50 million each to EIV Capital fund III, which was reported to hit a close at $450 million last month, and Amulet Capital for its debut fund, as per a report in The Alternative Assets Network.

Besides, the pension fund has committed $83 million to ABRY Senior Equity for its fifth fund worth $1.05 billion, and $100 million to Veritas Capital Buyout Fund VI, which launched last month with a $3 billion target. It has also committed €70 million to the only European fund TDR Capital Fund IV, the report added.

Established in 1921 by the New York State Legislature, NYSTRS provides retirement, disability and death benefits to eligible New York State public school teachers and administrators. It invests in a diverse range of asset classes including domestic equities, international equities, domestic fixed-income, real estate, mortgages, alternative investments, global bonds and short-term investments/cash equivalents.

MBK Partners has assets worth $15 billion under management and mainly invests in companies in the Northeast Asia region. The firm has offices throughout Asia including China, Japan and Hong Kong.

The firm launched its first fund worth $1 billion in 2005, and second and third fund worth $1.5 billion and $2.7 billion in 2008 and 2013, respectively. Its total operating asset value is nearly double that of Asia’s second largest private equity fund operator Affinity Equity Partners based in Hong Kong.

Also Read: South Korea’s MBK Partners raises $4.1b for its fourth fund

Korean PE firm MBK Partners halts its share sales in Coway

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.