New York State Common backs RRJ Capital

RRJ has reportedly raised $3.5 billion for its second fund, having originally targeted up to $5 billion. Other LPs are understood to include China Investment Corporation (CIC), Temasek Holdings and Texas County & District Retirement System.

The fund is expected to follow a similar remit to that of its predecessor, which reached a final close of $2.3 billion in 2011. While Fund I invests in Asia, an interest in natural resources has taken it into North America, searching for assets that are strategically aligned with Asia's energy needs.

NYSCRF has more than $150 billion under management, of which about $15 billion is deployed in private equity. Having previously allocated primarily to large pan-Asian buyout funds, the pension system has adopted a more targeted approach in recent years.

It regards Asia Alternatives as a strategic partner, having invested $50 million in each of the fund-of-fund's second and third comingled vehicles and last year put $200 million into two managed accounts with the firm. Both accounts made small commitments to Hony Capital V and NYSCRF followed up by investing $100 million in the fund, its first direct foray into an indigenous China fund.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• LPs
• Fundraising
• Greater China
• Southeast Asia
• New York State Common Retirement Fund
• LPs
• RRJ Capital
• Asia
• Fundraising