NY pension fund seeks in-state investments

ALBANY -- 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. -- AP