New York State Common Retirement Fund

What New York State Common Retirement Fund does

The New York State Common Retirement Fund (NYSCRF) is one of the largest public pension funds in the United States, with approximately $298 billion in assets under management. Established under New York State law and administered by the Office of the New York State Comptroller under Thomas P. DiNapoli, the fund provides retirement, disability, and death benefits to members of the New York State and Local Retirement System (NYSLRS) — a defined benefit pension plan covering New York State public employees and retirees. NYSCRF is supported by member and employer contributions and generates returns through a diversified investment portfolio spanning public equities, private markets, and alternative assets.

The fund's investment strategy emphasizes scale-driven diversification across technology, financial services, defense, consumer, healthcare, and industrials sectors, with material commitments to flagship private equity vehicles (including KKR North America Fund XIV, Veritas Capital Fund IX, and Blue Owl Strategic Equity). The fund pursues an active stewardship and proxy voting program, evidenced by Sierra Club 'A' grades for climate-risk proxy practices and identification as one of only five pension funds with set climate investment targets by end of 2025. It also supports an emerging manager program to broaden its allocator ecosystem. Recent strategic activity includes a $2.5 billion increase in private markets exposure in late 2025, a 12.50% return in the first nine months of the fiscal year ending December 31, 2025, and active engagement with portfolio companies on governance and climate-policy matters.

NYSCRF does not operate as a commercial enterprise and has no traditional pricing model, customer acquisition channels, or commercial revenue streams. Operational service delivery is provided through government administrative platforms including Retirement Online, NYS Payroll Online, Unclaimed Funds search, and Open Book New York — all of which are government services rather than commercial product offerings. Headcount is reported at 1,001–5,000 employees, with headquarters at 110 State Street, Albany, New York. The fund's strategic posture combines large-scale institutional investing with active shareholder advocacy, positioning it as a governance influencer in addition to a capital allocator.

Name

New York State Common Retirement Fund

Legal name

New York State Common Retirement Fund

Website

https://osc.ny.gov

Company type

Public

Founded year

1920

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

The New York State Common Retirement Fund is a $298 billion public pension fund managed by the Office of the New York State Comptroller. It administers defined benefit retirement, disability, and death benefits for New York State and Local Retirement System members through diversified institutional investment management and active shareholder advocacy.

Ownership category

akta.pro rank

Product category

Public Pension Fund Administration

NAICS

Pension Funds (525110), Pension Funds (52511)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industries

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA), Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK)

Keywords

• Public pension fund
• Defined benefit plan
• Pension investment management
• Retirement benefits administration
• Institutional asset management

Headquarters

HQ city

Albany

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Core offering

The New York State Common Retirement Fund (NYSCRF) is a $298 billion public pension fund managed by the New York State Comptroller's Office that administers retirement, disability, and death benefits for members of the New York State and Local Retirement System (NYSLRS). The fund invests member and employer contributions across public equities, private markets, and alternative assets, and exercises shareholder advocacy through proxy voting and corporate governance engagement.

Product overview

The New York State Common Retirement Fund (NYSCRF) is a government pension fund, not a product company. It does not offer commercial products or services in the traditional sense. The fund is part of the New York State and Local Retirement System (NYSLRS), which is a defined benefit pension plan providing retirement, disability, and death benefits to public employees. The Comptroller's office provides operational services including Retirement Online, NYS Payroll Online, Unclaimed Funds search, Open Book New York financial transparency tools, and various government finance management systems, but these are government administrative services rather than commercial product offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• New York State and Local Retirement System (NYSLRS) Defined Benefit Pension Defined benefit pension plan providing retirement, disability, and death benefits to members of the New York State and Local Retirement System (NYSLRS), which includes public employees and retirees of New York State.
• Retirement Online

Quantifiable outcome

• 12.50% return in first nine months of fiscal year ending Dec. 31, 2025

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Florida State Board of Administration (SBA): Florida's primary state investment entity managing pension assets for Florida Retirement System members. Directly comparable as a large state public pension fund with diversified mandates including significant alternatives exposure and a similar governance framework.
• California Public Employees' Retirement System (CalPERS): The largest US public pension fund, serving California state and local public employees. Directly comparable to NYSCRF in mandate (DB public pension), governance structure (state constitutional oversight), and scale (~$500B AUM). Both funds engage in large-scale private markets allocation and active proxy voting.
• Texas Teachers Retirement System (TRS): One of the largest US public pension funds serving Texas public educators with ~$200B+ AUM. Comparable in structure (state DB plan), scale, and private markets strategy. Often co-invests with NYSCRF in major private equity flagship funds.
• New York City Employees' Retirement System (NYCERS): The largest municipal pension fund in NYC, serving NYC civilian employees. Operates alongside NYSCRF within the broader NY public pension ecosystem. Comparable in DB structure, member base (public employees), and oversight framework, though smaller in scale.
• Minnesota State Board of Investment (SBI): Manages pension, retirement, and trust assets for Minnesota state employees, teachers, and other plans. Also co-invested $400M in KKR's North America Fund XIV alongside NYSCRF. Comparable state-level public pension mandate and alternative asset allocation strategy.
• North Carolina Retirement Systems: Manages pension and benefit assets for North Carolina state and local government employees. Comparable state-level public pension fund with a focus on long-term liability-driven investment strategies and private markets diversification.
• Pennsylvania Public School Employees' Retirement System (PSERS): Pennsylvania's public school employee pension fund with ~$70B AUM. Comparable state-level DB pension structure, significant private equity allocation, and similar governance/oversight framework to NYSCRF.
• Washington State Investment Board (WSIB): Manages pension and other state fund assets for Washington State. Recently co-invested with NYSCRF in KKR's North America Fund XIV ($600M commitment vs NYSCRF's $500M). Direct comparable in mandate, scale, and private markets appetite.
• California State Teachers' Retirement System (CalSTRS): The second-largest US public pension fund, serving California public educators. Operates under a similar state-mandated DB structure with significant private equity allocation and corporate governance activism. Comparable in scale (~$300B AUM) and investment philosophy to NYSCRF.
• State Teachers Retirement System of Ohio (STRS Ohio): Ohio's public pension fund for teachers with ~$90B AUM. Comparable state-level DB pension structure serving public educators, with significant private equity commitments and active corporate governance practices similar to NYSCRF.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nys-office-of-the-state-comptroller

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New York State Common Retirement Fund